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Treasuries traded lower Mon.........>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries traded lower Mon afternoon after soft NY opening,
muted range since. TIPS lower, outperformed nominal Tsys.
- Early mild Tsy 10Y note sales after firm NY Empire State Mnfactrg then morning
dip buying after mixed flows, mild corporate rate-locks. Mkt saw big FVZ7 US Tsy
5Y futures sale of 8,009 contracts vs buy of 5,535 German 5Y OEZ7 futures prior
to 10:18am ET. Also foreign buying surfaced in cash 3Y note.
- Also Ultra Bond futures contract block buy of 3,621 WNZ at 8:15am ET. 
- Tsys buying before 12:35pm ET of 8,500 TYZ 10Y Tsy futures (from 125-19 to
-19.5) Good demand at today's Tsy 3m and 6m Bill auctions. US Eurodlr futures
saw midafternoon short end buyer prior to 2:03pm ET: Dec'17 bid had buy of
15,000 EDZ at 98.50 (-0.005).
- US swap spreads bump around top end of narrow range, off opening narrows amid
light deal-tied hedging earlier, real$ rate short end receivers, money mgr
paying intermeds. Receiving flurry in 9s, 10s, 12s on light size; props fade
move into  supply. 
- US CORP BONDS: Quiet Mon with only Target, BPCE; busier Tuesday.

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