The overnight repo market....>

US TSYS/OVERNIGHT REPO: The overnight repo market Wednesday again had early

demand for the two-year note, three-year note, five-year note and ten-year note,

but then demand for the three-year, five-year and 10-year notes faded as the day

went on, said traders. The three-year note and ten-year note demand arose on

auction-tied shorts around this week's 3/10/30-year auctions, said traders.

However the two-year notes and five-year notes also had unrelated demand too.

- Treasury will sell $23 billion 10-year notes Wednesday and $15 billion 30-year

bonds on Thursday. 

- Most other issues such as T-bills traded fairly quietly. But a slight bid

remained in the old five-year note, which has had a long-running special, said

traders.