Treasuries have been fairly.........>

US TSYS SUMMARY: Treasuries have been fairly rangebound in European trading (on

thin volumes), largely taking their cue from Bunds/Gilts, and equity futures

which remain in a bit of a holding pattern following Wednesday's bounce.

- Jun 10-Yr futures (TY) down 4/32  at 138-29.5 (L: 138-27.5 / H: 139-05.5)

- The 2-Yr yield is down 0.4bps at 0.209%, 5-Yr is up 0.2bps at 0.3689%, 10-Yr

is down 0.7bps at 0.6125%, and 30-Yr is down 0.2bps at 1.2129%.

- House meets at 1000ET, seen passing $484bln pandemic relief bill easily.

- Will be plenty of focus on data today, with jobless claims at 0830ET, and PMIs

at 0945ET (following on from downside misses in European PMIs). Also March new

home sales at 1000ET and Apr Kansas City Fed manufacturing at 1100ET.

- Another wide range for initial claims estimates; Median/Average 4.4-4.5mln,

though expectations run between 3.0-5.8mln.

- Also worth some attention is the release of the Fed weekly securities holdings

(1630ET), in light of the creation of new facilities.

- In supply/buybacks, we get $17bln 5Y TIPS auction at 1300ET, while the NY Fed

buys $21bln in Tsys today (up from just $7bln yest), starting at 1010ET.