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Treasuries traded mildly weaker.....>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries traded mildly weaker midday Wed, but off the day's
price lows seen about 7am ET, amid muted two-way flows and mild dip buying as
the US$/yen remained weak. 
- Tsys opened NY weaker, after overnight give-back of Friday safe-haven buying
into the weekend amid N.Korea/U.S. tensions. When there was not a N.Korea
flareup, accounts unwound such safe-haven buying, but did not go crazy on that,
because N.Korea still lurks as an event risk. 
- US real money buying occurred in front end Tsys, while others did dip buying
in nominal Tsys 7Y and 10Y notes. Cash Tsys saw accounts roll from "now-old" May
2027 10Y to the Aug. 2027 10Y, among other cash mkt switches ahead of Tues
3/10/30Y auction settlement. 
- FX-tied buying around 10:19am ET, later as US$/yen weakened somehwat. Fast
money did steepeners vs 30Y Tsy. Tsy O/N Repo: 2Y Tsy tight. MBS spds  tight. 
- Tsy futures: Sep/Dec Tsy futures roll starts (only 1-2% Sept OI rolled so
far.) Fed Funds futures: decent block buy of 6,000 FFQ at 98.845 at 11:57am ET. 
- German Bunds weakened in morning, as risk-off trade reversed.

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