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Treasuries have recovered from......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries have recovered from modest early weakness in
Asia-Pac trade early Wednesday.
- Mar 10-Yr futures (TY) off a tick at 129-17.5 (L: 129-12 / H: 129-19.5).
Largely a risk-on atmosphere; S&P on track for another record high open though
futures a little off the highs (E-minis last up 0.4%).
- Belly underperforming in curve: 2-Yr yield down 0.2bps at 1.5283%, 5-Yr up
0.2bps at 1.5766%, 10-Yr down 0.4bps at 1.7708%, 30-Yr down 0.9bps at 2.2266%.
- Trump and Mnuchin on the wires at Davos this morning; not much new though
Trump told Fox he plans to announce a large middle class tax cut proposal in the
next 90 days.
- FOMC quiet period continues. And data today is thin, with Chicago Fed Nat
Activity at 0830ET; existing home sales at 1000ET the main point.

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