Treasuries prices open NY lower,....>

US TSYS SUMMARY: Treasuries prices open NY lower, mildly steeper into 8:15 July

ADP US private payrolls report and 8:30am ET US Tsy Aug refunding auction

announcement. Tsys hurt too by a sharp UK Gilt fall and by large 7:06am ET

recent block sale in Tsy futures of 13,820 TYU 10Y futures at 126-02. 

- TOKYO: Light buying early in Tsy 2Y through 10Y notes, while banks also bought

some 5Y notes. Then some Tsys sales by Asian central banks in five year notes

and shorter maturities. Japan's Nikkei gain spurred some risk-on selling. 

- LONDON: Tsys slightly weaker as German Bunds drew good buying but also put

buying. However Tsys also saw some US accounts buying and also credit tied

buying; other banks sold sevens and tens. European stocks traded lower while US

stock futures traded higher due to above expectations Apple earnings and

revenues out late Tuesday. Gilts hurt as NIESR  overnight urged BOE to raise

rates in 1Q 2018, start to debate policy normalization. 

- US SWAPS: Wider, spd curve flatter; macro paying in intermediates, 10Y, 30Ys. 

- US EURODLR FUTURES: Mildly lower across strip, Whites-Reds outperform. -

HIGH-GRADE CORPORATES: Wed: NIB $500m 2Y.