Treasuries are a little stronger....>

US TSYS SUMMARY: Treasuries are a little stronger ahead of payrolls data Friday.

- The Mar 19 T-Note future is up 1.5/32 at 122-165, having traded in a range of

122-11 to 122-17 - underpinned overnight by weak Asian and European PMI data.

- This despite fairly constructive headlines on U.S.-China trade front.

- Some flattening in the curve: 2-Yr yield is flat at 2.4574%, 5-Yr down 0.3bps

at 2.4331%, 10-Yr down 0.8bps at 2.6218%, and 30-Yr down 0.9bps at 2.9865%.

- US nonfarm payrolls out at 0830ET; MNI median for January is notably weaker at

167,000 vs 312,000 in December. Analysts also expect average hourly earnings to

rise 0.2%, the average workweek to remain at 34.5, and the unemployment rate to

hold steady at 3.9% (see MNI 5 THINGS).

- Other key data includes ISM Manufacturing and Michigan Sentiment at 1000ET.

- Earnings today ahead of the bell include Simon Property Group, Honeywell

(already out), Merck, Chevron, Illinois Toolworks and ExxonMobil.

- Only Fedspeak is at 0945ET with Dallas Fed Pres Kaplan participating at a Q&A

session in Texas.