Treasuries open Fri NY much lower...>

US TSYS SUMMARY: Treasuries open Fri NY much lower amid heavy volume (TYZ 10Y

futures: 523,895 traded); cash 10Y note 2.368%, vs. 2.381% session high yld of

Fri 3:20am ET, 2.338% low yield seen 8:12pm ET Thu. Global stocks lower on fear

Senate tax bill won't bring 20% corporate tax rate until Jan. 1, 2019. 

- TOKYO; Tsys lower amid selling by fast$, regional banks and macro unds, insur 

portf selling long end; dealers unwound flatteners. But foreign central bk

buying cited in 5s. 

- LONDON: Tsys follow Bunds and Gilts lower, bottoms 6am ET. Fast- and real$

sold 5s and 10s, fund sales in 10s, carryover insurance & bank portf sales long

end. Cash flow mixed. 

- US SWAPS: Steady/mixed; receiving short-dated swaps and steepeners with 2Y or

3Y as long leg. better paying in 5Y,30Y; 10Y receiving. EURODLR FUTURES: Near

low on moderate volume.  

- OVERNIGHT REPO: TSY 3Y and old 3Y only tight issues. 

- US HIGH-GRADE CORPORATE BOND ISSUANCE: Quiet after a heavy week. I/G CDX

better, High Yd CDX soft.