Treasuries end Thu mixed/flatter,......>

US TSY/RECAP: Treasuries end Thu mixed/flatter, long end gains amid

consolidation day after 3day selloff. Mkt had strong $14B 5Y TIPS reopening:

stopped thru to 0.370% yield, high 71.7% indirects, solid 12.23% directs, left

only record-low 16.12% for dealers to mop up. Congress seems working on Tsy

limit; recall temporary debt limit lift expires Fri Dec. 22. 

- US weekly initial jobless claims up 20K; 3Q GDP 3rd estimate +3.2%. 

- Tsys saw early pre-leading indicator flow of real$ selling 5s and 10s, buying

off-the-run 2s and 3s, fast$ doing flatteners in 5s vs. 10s and 30s. Long end

rose late morning with real$ buying long end futures and cash Tsys esp. 30y

bond. Tsys mirrored core EGBs coming into NY, opened bid, pared gain soon after,

followed core EGB lead into midmorning. 

- Levels rebounded w/Bunds, prop and real$ buying 10s and 30s after fast$

selling in intermediates. More longend buys, curve flatteners. Month-end:

BBG/Barclays Tsys index extends 0.07yrs, Agencies 0.12yrs.

- T-Notes up 0.5 ticks at 123.17 in Asia, 10-Year yield last 2.479%