Tsy futures trading steady/mixed,......>

US TSY FLOWS: Tsy futures trading steady/mixed, curve mildly flatter with short

end underperforming. Levels near middle overnight range, decent volume in

TYZ>500k, 10Y yld holding around 2.456%. Equities firmer (emini +6.00, 2567.50),

gold little weaker (-0.77, 1266.20), oil weaker as well (WTI -0.09, 52.55).

Overnight repo in 5s, old 2s and 3s.

- Asia, Tsys opened mildly softer/in-line w/NY close, holding narrow range for

much of the session save for a brief spike about 3 hours into the session

(unknown driver) before falling just as quickly back to lower range into London

open. Two-way flow included some short cover/position squaring ahead weekend,

fast$ and macro fund sales, small buying 30s.

- London, held softer levels until around midmorning, trailed improvement in

Bunds, Spain/Catalan tension lending to risk off bid. Flow included UK asset

manager buying 5s and 10s, fast$ sold 10s.

- Swaps, spds running mildly tighter for the most part, spd curve steeper, light

flow includes receiving in 5s and 10s.

- Eurodollars, steady in wings, Reds-Blues (EDZ8-EDU1) softer, modest volume.