Treasuries are off best levels......>

US TSYS SUMMARY: Treasuries are off best levels but continue to make gains ahead

of the early close for the July 4 holidays.

- Global bonds continue to rally, with overnight central bank post announcements

(incl Judy Shelton & Christopher Waller for seats on the Fed Board and Lagarde

for ECB president) seen dovish.

- 10-Yr pushing well below 2%: 2-Yr -1.4bps at 1.7475%, 5-Yr -1.8bps at 1.7254%,

10-Yr -2.3bps at 1.9515%, 30-Yr -1.9bps at 2.4828%.

- Sep 10-Yr futures (TY) up 4/32 at 128-8.5 (L: 128-04.5 / H: 128-14)

- Overnight flow of note included block seller of 40.0K FVQ9 117.75 puts vs.

40.0K FVU9 118.00-117.50 put spread (21:16:00ET).

- Little new from Cleveland Fed's Mester (non-voter, hawk) in BBG interview

earlier, sounded sceptical about growth fears, saw Funds rate about neutral.

- Reminder of early closure of CME floor at 1300ET today, w cash trading closing

at 1400ET (per SIFMA rec.) Closed all day Thursday for Independence Day.

- We get May Factory/Durable Goods orders, Initial Jobless Claims and ADP data

(with an eye on Friday`s NFP), along with final Jun Services/Composite PMI.