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Trading weaker/off lows heading into...>

US TSY FLOWS
US TSY FLOWS: Trading weaker/off lows heading into Sep NFP (+182k est) AHE (0.3%
est), 10YY currently +.0192, 3.2062% vs. 3.2138% high -- after revisiting mid
2011 level of 2.305% Thu. Well off Thu's pace but still decent, TYZ>350k vs.
1.1M at this time yesterday.
- Relative calm heading into data, two-way position squaring heading into data
and extended holiday weekend for rates and currencies, prop and fast$ bought
near lows in 5s and 10s earlier, flattener unwind interest takes a pause,
swap-tied buying in 4s and 10s.
- Tsy cash/ylds: 2Y 99-23.5 (2.885%), 5Y 99-04.75 (3.059%), 10Y 97-07 (3.204%),
30Y 93-03.5 (3.367%).

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