Treasuries open NY higher, yield....>

US TSYS SUMMARY: Treasuries open NY higher, yield curves mixed (5/30Y steeper)

after overnight two-way flows mainly tilted toward Tsys bid. Mkt awaits 8:15am

ET ADP private payrolls. 

- TOKYO: Tsys traded fairly quiet for first few hours; about 9pm ET Tues, Tsys

bottomed out and then crept higher ever since, bid as US$ slipped into London

hours. Flow included macro acct buying in belly to long end w/Japanese insurance

portfolios in 10s and 30s. Tsys aided by softer Asian stocks; NIkkei ends off

2%. 

- LONDON: Softer stocks aid EGBS, Tsys. Weaker US$/yen also aids Tsys. Tsys saw

light sales in 5Y, 7Y, 10Y. 

- US Pres. Trump expected to back Jerusalem as Israel's capital later today;

some warn of Palestinian "3 days of rage" if that occurs; Bloomberg noted words

of Trump news key (i.e., does he say all of Jerusalem to be Israel capital?) 

- OVERNIGHT REPO: Current 10-year note remains very hot, still -3.00%; bid won't

let up until at least Nov. 15th, as MNI said last night, as it's due to usual

pre-auction shorts but also as shorts/bears fixate on current 10Y note.