Treasuries ended a choppy Wed.......>

US TSYS SUMMARY: Treasuries ended a choppy Wed midrange after mkt slid a bit off

highs in late afternoon after short-covering on noncontroversial FOMC statement.

The market saw late profit-taking and a small unwind too of Tsys cash mkt

flatteners. 

- This morning/first half markets wanted to buy everything: Tsys, Equities,

Gold, Oil. To be fair, equities trimmed gains earlier as did oil. After an

initial rally post annc, bids in Tsys and gold continue to evaporate ahead Thu's

BoE annc, Trump Fed chair pick and Fri's NFP. Flow light

- Tsys gained earlier after weak NY opening, then bull flattening on Nov. US Tsy

refunding announcement; Tsy kept auction sizes steady on 3/10/30Y auctions for

next week. TBAC urged to raise Tsy supply issuance in front end. US accts'

selling early on strong +235K Oct ADP priv payrolls; foreign accts inactive.

30-year bond buying midmorning on softer 58.7 Oct. US ISM Purchgs Mgrs; 0.3%

Sept. constructn spendfg. 9:47am ET block buy: 3,201 WNZ Tsy futures. 

- Flatteners: 2/5Y, 2/10Y, 5/30Y; fast$ 5s10s steepener, bank buying in 30s.

Tsys 3pm ET: 2Y 1.620%; 3Y 1.742%; 5Y 2.021%; 7Y 2.231%; 10Y 2.374%; 2.860%