Treasuries saw 2-prong Wed..........>

US TSYS SUMMARY: Treasuries saw 2-prong Wed selloff as mkt tried to halve

morning loss by midday, as stocks faltered; Tsys managed to repair technical

losses but then also saw afternoon bear-steepening. 

- Tsys began NY weaker after overnight range, then ebbed gradually since about

5:36am ET. Tsys 10Y hit a session high yield of about 2.495% (highest since Mar

2017), after broke over 2.48% level, neared key 2.50% level. 

- Long end underperformed; 30Y hit 2.870% session high yield by 1:27pm ET.

Treasuries yields flirted with multi-month highs. 

- Tsys saw multiple accts sell 10Ys on out cu;rve: pensions, MBS-tied, hedge

funds and CTAs, in cash, futrs. Tsys saw third day of yld curve steepening. 

- But stocks faltered midmorning, which helped Tsys recover; S&P Eminis hurt by 

morning huge sale of 36.4K-contracts in S&P Eminis ($4.6B nominal value) amid

VIX action, sell-stops, said Stifel research. DJIA isaw consumer discretionary,

I/T, hlthcare and consumer stks; industrials & telecomm gained. 

- House re-voted, passed US tax bill; Pres. Trump has 3pm ET bill "passage"

ceremony (not "bill signing"; signing at unspecified later date.)