Treasuries prices open NY higher,...>

US TSYS SUMMARY: Treasuries prices open NY higher, flatter after overnight

range, then dip until 3:30am ET, when 10Y note hit key 2.50% then a slow rise as

bargain-hunting buying showed. That followed recent 3-day Tsys selloff. 

- TOKYO: Tsys began steady/mildly bid with mild gains into UK. Mkt supported by

Asian real money buying in 10Y notes/longer issues, while bank buying arose in

30Y bonds; others did 5/30Y Tsy cash flatteners. Nikkei stock index receded amid

global stocks profit-taking on earlier buying spurred by US tax bill approval in

Congress. Yen weak as BOJ kept rates and mon policy steady. 

- LONDON: Tsys 10Y hit 2.479% session low yield at 1:58am ET, then ylds moved

upward until 10Y hit 2.50% at 3:30am ET. Tsys followed core EGBS lower, then

improved off the lows with German Bunds. Flows had prop, real$ buying in 10Y,

30Y after fast$ selling in intermediates. European stocks mixed; US stock index

futures firmer. 

- US SWAPS: Modestly wider across curve. 

- OVERNIGHT REPO: Tsy 2Y, 5Y tighten into next week's 2/5/7Y auctions. 

- US HIGH-GRADE CORPORATE BONDS: Nothing expected; busy Jan. though.