Treasuries are turning lower,.......>

US TSYS SUMMARY: Treasuries are turning lower, with TYs touching worst levels

for 3 sessions, ahead of a good mix of data, Fed speakers and Tsy supply.

- Continued US-China / COVID concerns weighed on risk early in Asia-Pac, but

this has dissipated, with S&P futs now up slightly on the session.

- Jun 10-Yr futures (TY) up 0.5/32 at 138-20.5, well off high (138-29), curve

weaker: 2-Yr yield is up 0.4bps at 0.1788%, 5-Yr is up 0.8bps at 0.3591%, 10-Yr

is up 0.6bps at 0.7161%, and 30-Yr is up 0.6bps at 1.422%.

- Supply today highlighted by $32B 10Y Note sale at 1300ET; on the other side of

things, NYFed buying ~$11bln in Tsys today.

- April CPI at 0830ET: ex-food/energy reading seen -0.2% M/M, the lowest survey

median ever. Granular elements eyed: we'll send out some sell-side takes.

- NFIB small business optimism for April at 90.9 fell from 96.4 in March but

beat 83.0 survey median estimate. Sales expectations collapsed, but expectations

for bus. conditions 6 months from now rose to highest since Oct 2018.

- At least 6 Fed speakers: 0900ET StL's Bullard, Minn's Kashkari; 0915ET Dallas'

Kaplan (CNN), 1000ET Philly's Harker, VC Quarles; 1700ET Clev's Mester.