The prospect of a further...........>

US TSYS SUMMARY: The prospect of a further escalation in US-China tensions -

centered around a press conf w Pres. Trump later today (timing TBA) - has

continued the risk-off tone from late in Thursday's session, with equity futures

lower and the Tsy curve bull flattening.

- The 2-Yr yield is down 0.8bps at 0.1622%, 5-Yr is down 1.7bps at 0.321%, 10-Yr

is down 2.1bps at 0.6689%, and 30-Yr is down 1.5bps at 1.4373%.

- Sep 10-Yr futures (TY) up 8.5/32 at 138-29.5 (L: 138-24 / H: 139-01)

- A nice slate of data to finish the week/month: Apr personal income/spending at

0830ET, MNI Chicago PMI at 0945ET, and final UMich sentiment at 1000ET.

- At 1100ET, Fed Chair Powell gives the last word on where the FOMC stands

heading into the pre-meeting blackout period (starts Saturday).

- NY Fed announces next week's operational purchases, expected 1400ET. Hard to

gauge consensus but some suggesting will stay at $5bln/daily. For today, it's

$6.5bln in NY Fed buys (all short end coupons).