Treasuries push further lower, 10Y yield....>

US TSYS: Treasuries push further lower, 10Y yield is at 2.476%, around session

high yields. "They tried to push it higher" after weak Dec jobs to "see if they

could spook some Treasuries shorts and it worked a little bit" but only

temporarily, said one veteran trader. But now those who tried to push the market

higher are conceding defeat, and selling/setting shorts amid the lack of

post-jobs buyers after weak Dec. jobs, he said.

- That's because "we still have supply next week" in 3/10/30Y auctions, he said.

And that needs a price concession to be smoothly digested, he added. Plus "there

will be a slow churn to higher rates" in the U.S., he added. "The Fed has taken

volatility out of the market. So, the market only thinks there will be a slow

glide path."