Treasuries are nearing session......>

US TSYS SUMMARY: Treasuries are nearing session lows (as stock futures touch

session highs) ahead of historic issuance details due out in a couple of hours.

- Jun 10-Yr futures (TY) down 4.5/32 at 138-23 (L: 138-18.5/ H: 138-26)

- The 2-Yr yield is up 0.2bps at 0.1902%, 5-Yr is up 0.5bps at 0.3798%, 10-Yr is

up 0.6bps at 0.668%, and 30-Yr is up 0.2bps at 1.3337%.

- SCMP story out around 0600ET weighing a little on Tsys, re potential for China

to sell some Tsy holdings due to rising tensions w U.S.

- Most attention on Treasury's quarterly refunding announcement due at 0830ET.

With a $3trn borrowing requirement for the quarter, massive issuance coming -

new 20-Yr tenor and coupon auction increases are the most keenly eyed aspects.

- Data is comparatively light but ADP private payrolls (-21 mln consensus, with

hi: -9.3mln, low: -25mln) for April at 0815ET will be keenly eyed ahead of

Friday's NFPs.

- Fed speakers today: 0800ET StL's Bullard on CNBC, 1330ET Atl's Bostic.

- NYFed buying $6bln in Tsys/TIPS today.