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The Treasury rally continues........>

US TSYS SUMMARY
US TSYS SUMMARY: The Treasury rally continues following a U.S. airstrike killing
a senior Iranian military official, amid strong risk-off move and possibly in
anticipation of further geopolitical developments.
- Mar 10-Yr futures (TY) last up 21/32 at 129-09 (L: 128-20 / H: 129-09.5)
- Strong bull flattening move in the curve: 2-Yr yield is down 4bps at 1.5286%,
5-Yr is down 6.9bps at 1.5977%, 10-Yr is down 7.5bps at 1.802%, and 30-Yr is
down 7.3bps at 2.2579%.
- Oil surging (WTI +4.1%), stocks off (S&P futs -1.4%), USD firmer (DXY +0.2%).
- All of the day's data comes at 1000ET: December ISM manufacturing numbers and
November construction spending.
- Plenty of Fed speakers: Richmond`s Barkin on "Is a Recession Around the
Corner?" at 1105ET, then a panel on "Women In Central Banking" with FRB`s
Brainard, SF`s Daly and Chicago`s Evans at 1315ET.
- SF`s Daly appearing again at 1530ET on "Navigating the Crosscurrents: the
Outlook for the Global Economy" panel alongside Dallas` Kaplan.
- And minutes of the December FOMC meeting at 1400ET.

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