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Tapped late overnight lows post........>

US TSY FLOWS
US TSY FLOWS: Tapped late overnight lows post data, mild rebound before sellers
reloaded, long end extending lows, curves little steeper. Overall volume on move
rather limited, however. With ylds near top end seven year highs, traders
looking for more reasons to have stronger conviction to sell. Implied vols
directionally higher, not to mention heavy OTM put buying overnight (pit sale
TYX 117 puts taking some profits). Fast$ 2s10s curve steepeners, deal-tied and
pre-auction selling into upticks.

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