Treasuries end Tues lower,..........>

US TSYS SUMMARY: Treasuries end Tues lower, tracking UK Gilts, German Bunds

down; 10Y Gilt yld up +9.9bp. That amid EGB supply and as ECB Coeure cited

"reasonable chance that bond buying would not be extended." 

- Tsys began NY weaker, steeper after UK action (Tokyo out 'til Thu.) The market

then saw mild dip buying. Then Tsys drew more sales after firm 55.1 US Markit

Dec manfctrng PMI. Mkt digested corporate rate-lock hedges amid high-grade bond

issuance. 

- And in Tsy futrs: 10:43am ET sell-thru block of 3,521 UXH (Mar 10Y Ultra) at

133-01; followed last Friday's block buy of 3,500 Mar 10Y Ultras at 133-18.5. 

- Tsys had fast$, prop acct sales in 5Y and 10Y, and program sellers joined

real$ sellers in 10Y, 30Y; 5/30Y steepeners done & flattener unwinds. Fast$

bought the lows in 2s and 54s, while rate receivers in the mix as swap spreads

ground in tighter. 

- Late morning selling in TYH 10Y Tsy futrs from 123-23 to 123-20.5. US Eurodlr

futrs sale before 12:40pm ET: 14K EDM at 98.045.

- TSYS 3PM ET: 2Y 1.923%, 3Y 2.015%, 5Y 2.25%, 7Y 2.382%, 10Y 2.465%, 30Y 2.810%