Treasuries continue to pick up,.....>

US TSYS SUMMARY: Treasuries continue to pick up, though are off highs seen

earlier Thursday. Geopolitics and European Central Bank decision in focus.

- Quiet Asia-Pac session despite geopolitical headlines (NKorea missile launch,

U.S.-Iran tensions, etc). T-notes only really got moving in early Europe trade.

- Weak German Ifo figures and dovish ECB speculation boosted global bonds.

- A bit of a fade since hitting best levels at 0400ET. Sep 10-Yr futures (TY)

last up 4/32 at 127-20.5 (L: 127-16.5 / H: 127-24.5)

- Curve pretty flat: 2-Yr yield is down 1bps at 1.8079%, 5-Yr is down 0.9bps at

1.8009%, 10-Yr is down 1.2bps at 2.0305%, and 30-Yr is down 0.9bps at 2.5639%.

- Bit of bull steepening in ED strip, short end steady/+1 tick, while Blues and

Golds firmly up 2.5 ticks (mirroring move in Euribor).

- Most global attention today on the ECB decision (0745ET, presser 0830ET). 

- Data picks up in earnest later with durable goods orders and jobless claims

(both 0830ET), plus another regional Fed index (KC Fed at 1100ET).

- $32bln 7-Yr auction at 1300ET as well, follows 5-Yr tailing on Weds.