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Treasuries have drifted lower.......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries have drifted lower over the course of the European
session Wednesday.
- Mar 19 T-Note futures are off 7.5/32 at 121-215, having traded in a range of
121-20 to 121-30.
- Some decent flow seen earlier in 5-yr Tsy futures including a couple of 50k
FVG9 call spreads at 115.00/115.25 and 114.00/114.25 seen around 0130/0230ET.
- Curve is bear steepening, with 2-Yr yield up 1.2bps at 2.5471%, 5-Yr up 2bps
at 2.5505%, 10-Yr up 2.7bps at 2.7379%, and 30-Yr up 2.8bps at 3.1014%.
- US import/export price index data and the NAHB Housing Market Index are the
calendar highlights. Fed's Kashkari (non-FOMC voter) due to speak 1830ET.
- Lots of Financials reporting earnings today (US Bancorp, Blackrock, BNY
Mellon, PNC Financial, Goldman Sachs, Charles Schwab); BofAML shares higher
pre-market with overall results in line.
- Overall, S&P Emini futures up 0.15%, DXY dollar index up 0.11%.

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