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Treasuries are flat, fading an......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries are flat, fading an early uptick Thursday.
- Risk-off tone set overnight with poor U.S. corp earnings results and reports
that Trump and Xi are at loggerheads on trade.
- Tsys losing steam though, with FVs and TYs now being sold in decent size.
- Sep 5-Yr futures (FV) up 1/32 at 117-23.75 (L: 117-23.5 / H: 117-27.25); 10-Yr
futures (TY) up 1.5/32 at 127-13 (L: 127-12.5 / H: 127-18.5).
- Cash curve fairly flat: 2-Yr yield is up 1.7bps at 1.8278%, 5-Yr is up 1.3bps
at 1.8262%, 10-Yr is up 1.6bps at 2.0606%, and 30-Yr is up 2bps at 2.5771%.
- ED strip up 0.5-1.0 ticks.
- KC Fed's George (voter, hawk) said Weds that she does not see the case for a
rate cut in July, her outlook hasn`t changed since June. Dissenter?
- Fed's Bostic (0930ET) and Williams (1415ET) make appearances, with the latter
making a keynote speech on MonPol. Pre-FOMC blackout looms.
- Treas Sec Mnuchin speaking currently from G7 meetings, nothing impactful yet.
- Main data readings today are Philly Fed and jobless claims (both 0830ET).

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