Traders expected US, foreign bid........>

US TSYS/30Y: Traders expected US, foreign bid including from Asia (Japan, China

etc) at 1pm ET $12B 30Y reopening; follows Wed strong 10Y reopening. Traders see

30Y reopen to go well with 2.880%-2.888% rate expected. 

- "Buyers will emerge at the levels around here," said a primary dealer trader.

Asian buying should come into 30Y auction after good overnight buys from Asian

and Chinese accounts, including some early NY Asian buying in 2Y, 5Y Tsys. -

Nomura N.American head of rate research George Goncalves and analysts Stanley

Sun and Penglu Zhao said "heightened expectation on financial deregulation may

help cash long end perform. Long end bid continues, suggesting duration demand

both outright and on the curve." 

- But Nomura analysts warned "likelihood of further discussions on new

ultra-long supply in the upcoming refunding survey could be a concern for

investors." They add "long end curves are near the flattest levels seen in

recent years." 

- HISTORY: Sep $12B 30Y reopening: 2.790% rate, 2.750% coupon, 2.21 cover, 58.8%

indirects, 6.82% directs, 34.4% dealers.