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Treasuries opened NY higher after...>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries opened NY higher after seeing buying starting soon
after Tsys bottomed around 2:30am ET 10-yr note 99-05+/2.345% yield with
sharpest gains around 3:46am ET; 10-yr now 2.309%. Fed Chr Yellen meets with US
Pres. Trump Thurs, the last of his five finalists to interview for Fed Chr post.
- TOKYO: Tsys began steady/mixed after Wed decline, with rangebound action
developing a late bid. Tsys saw mixed flows; foreign central bank buying short
end, other buying in 5Y notes vs. selling out the curve. Regional banks and
macro funds sold Tsys into strength. 
- LONDON: Safe-haven bid bolsters Tsys as Spain said will invoke Article 155 as
Spain/Catalan rift deepens. Asset allocation occurs from stocks into Tsys. Macro
fund Tsys buying while bk portfolios 2-way in 10Ys. New Zealand First before 2am
ET said would join labor to form coalition govt, which sent NZ$ choppy. Tsy 10Y
futures saw recent block buy,5,000 TYZ at 125-11 at 7:33am ET. Real$ did mixed
flows in 3Y note. US SWAPS: Wider; risk off outweighs deal-tied compression. 
- OVERNIGHT REPO: Tsy 2Y, 3Y, old 3Y, old 5Y, old 7Y tight.

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