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Treasuries hold a tight lower range in......>

US TSYS
US TSYS: Treasuries hold a tight lower range in early NY action. BNP to do a
benchmark 144a/RegS sr nonpreferred 10Y today at +135s via BNP. 
- Meanwhile ZeroHedge said "something has changed" from prior action for months
of lower high-yield bond yields/rising stock prices amid big foreign central
bank Q/E-type bond buying; now it said "last 2 weeks have seen a big shift in
flows as investors have fled high yield funds and pushed into investment grade
and Tsys;" cited "dramatic decoupling between equity and credit risk." 

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