The U.S. Tsy has reversed its modest........>

US TSYS: The U.S. Tsy has reversed its modest overnight losses, after the BOJ

offered to buy an unlimited amount of 10-Year JGBs at 0.10%. This was touted

earlier today and is the second such operation conducted this week (prior

operation conducted at 0.11%). Tsys had previously ticked lower after the

operation didn't occur alongside the BOJ's Rinban ops.

- Elsewhere price action was limited ahead of today's U.S. GDP release. Late on

Thursday U.S. President Trump noted that the release probably won't hit 5.3%,

but stressed that it will be "terrific," pointing to something above 4.0%.

- Eurodollar activity has also been fairly limited, with the strip trading

largely unchanged last.

- Noted Tsy options flow: TYU8 120.00/121.50 1x5 call spread, paper paid 0.02

for the package on 700 of the 120.00 calls vs. 3.5k of the 121.50 calls.

- Focus falls on the aforementioned GDP release later today, ahead of next

week's FOMC MonPol decision.

- T-Notes last at 119.11, U.S. 10-Year cash Tsy yields last at 2.973%.