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Treasuries open NY higher,..........>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries open NY higher, flatter as overnight rally picked up
speed around 4am ET as Tsys tracked EGBS upward after German election results
and FTQ on Mideast jitters. 
- TOKYO: Tsys saw fast$ sellers into strength, early safe haven unwind after
last wk rally; Asian end-user selling in 5s. Japan PM Abe to dissolve lower
house, change tax pol. 
- LONDON: Tsys surged w/Bunds as German PM incumbent Angela Merkel gained 4th
term but far-right AFD party gains enough votes to get Bundestag seats. Tsys and
Gilts rallied too on FTQ bid on Mideast (Turkey, Iraq, Iran) political tension.
Tsys had fast$, real$ buying in 5s and 10s; US bank and real$ buying 30s, end
user selling into rally. Corp, Tsy supply-tied sales. Recall Tsy 10Y note had
100-00 upside pivot pt; had been above there, now slightly below; Tsy 10Y future
had 125-28/32 upside pivot; it hit earlier high of 125-31+ at 5:19am ET. 
- US SWAPS: Spds mildly tighter across curve; bk portfolio 10Y receiving. 
- US CORPS ISSUANCE: Nissan Motor Acceptance 3/FRN and 5Y/FRN Mon. 
- OVERNIGHT REPO: 2Y, 3Y, 5Y, 7Y 10Y Tsy notes tight.

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