Treasuries are trading with a.......>

US TSYS SUMMARY: Treasuries are trading with a slightly weaker tone early

Friday, in anticipation of a slew of data and post-FOMC Fed speakers.

- Very little newsflow in overnight session, though a decent amount of flow

involving 5s. Most recent (0345ET) block of interest: Jan. FV 118.75/120.50 risk

reversal in 40k paying 3.5 for the put. At 0205ET, 40k EDM1 98.59 blocked vs 20k

FV 119-067 (looks flattener but conflicting reports on which was bot/sold).

- Curve a bit flatter: 2-Yr yield is up 1.4bps at 1.538%, 5-Yr is up 1bps at

1.5294%, 10-Yr is up 0.7bps at 1.698%, and 30-Yr is up 0.8bps at 2.1869%.

- Dec 10-Yr futures (TY) down 2/32 at 130-7.5 (L: 130-06 / H: 130-12).

- Friday's data lineup is as follows: Employment Report (0830ET); Markit Manuf

PMI (0945ET); ISM Manufacturing and Construction Spending (1000ET).

- And that`s not all: Fed speakers kick off with Dallas' Kaplan at 0930ET;

Clarida/Quarles/Daly all up at 1300ET; Williams slightly later at 1430ET.