The overnight repo market....>

US TSYS/OVERNIGHT REPO: The overnight repo market on Tuesday saw the ten-year

note tighten up to -3.00% vs. -1.65% Monday and vs. -1.00% Friday. The ten-year

note tightened in what may be early anticipatory shorts heading into next week's

3/10/30-year Treasury auctions, but what may also reflect other market-shorting

positions of short 10-year notes or sell 10-year notes.

- Most other issues traded quietly, though the 3-year note had a mild bid at

0.35%. The old 5-year notes traded at 0.06% vs. 0.05 Monday, -0.40% last Friday

and a super-tight -3.50% rate on last Thursday. The old 5-year note loosened up

after last week's settlement of the 2/5/7-year auctions, said traders.

- The Treasury General Collateral rate meanwhile traded loose at 1.19%.