There is not much going on in the...>

US TSYS SUMMARY: There is not much going on in the Treasury market space in the

last trading day of 2017. The belly of the curve is leading movements with the

5Y down 1bp but movements along the remainder of the curve are down but only by

around 0.5bp. 

- There is an early close in the US today with the cash market set to close at

1400ET and CME two hours after that. Prior to the early escape, there will be a

month-end index extension to get through, which will be 0.07Y for the

Bloomberg-Barclays Treasury index. There are no data releases. 

- Attention will focus on the slope of the yield curve as the 5-30Y spread

touched its lowest since 2007 at 51.8bp yesterday but curve steepening today has

taken that to 53.2bp.

- Swap spreads are well bid in the front end of the yield curve today, with the

2Y spread +0.5bp at 18.375bp.