*** Small AHE miss +0.1498% vs......>

US TSYS SUMMARY: *** Small AHE miss +0.1498% vs. 0.2% exp gets overlooked in

favor of strong Feb jobs gain of +313k, well over +220k est. Early trade did

prove choppy as market digested the data/weighing headline data vs. finer

details of individual numbers. Front to intermediates rebounded back to steady

briefly before sellers gained traction, extending long end to new lows several

times, curves steepening. 

- US% index eased slightly (-.101, 90.078) after making strong gains on Thu;

equities stronger (emini +40.5, 2784.75); gold firmed (XAU +1.23, 1323.20); West

Texas crude rebounded from Thu lows (WTI +1.95, 62.07).

- Decent two-way flow in post-data chop from fast$, real$ and bank portfolios in

2s-10s, prop and real$ selling in 10s-30s, option-tied selling/call buying, no

deal-tied flow on light late week issuance ($55B/wk priced, $40B due to CVS).

- Little to no react to Fed speakers Evans and Rosengren on day, Evans status

quo, Rosengren may need more than 3 hikes in 2018. Fed media black-out begins

Saturday ahead FOMC on Mar 20-21.

Late ylds: 2Y 2.264%, 3Y 2.433%, 5Y 2.654%, 7Y 2.812%, 10Y 2.894%, 30Y 3.159%