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The Treasury market weakened in.....>

US TSYS SUMMARY
US TSYS SUMMARY: The Treasury market weakened in Asia but has stabilised in
Europe, despite a mini slide in the Bund contract.
- Swap flows have included a 3-5Y curve flattener in $160mln vs $100mln and a
payer of 5Y outright in E100mln at 08:39BST. There was also a $130mln TY invoice
spread roll from Sep to Dec at 09:06BST.
- The cash market is very tame this morning and there is no net change in the
10Y yield compared to the US close. At present, the 2Y is at 1.478% and the 10Y
at 2.194%.
- The cheapening of the October T-bills has been marginal but has continued as
the time before the drop dead date falls by another day.
- Hurricane Harvey is due to make landfall at 2am local time tomorrow morning
and refineries have already shut down.
- The market is only really concentrating upon the Yellen speech today.

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