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

US TSY FLOWS: Tsy futures trading steady/mixed, flatter curve rotating around

steady 10Y at moment (10y yld holding at 2.333), heavy volume (TYZ>600k) largely

due to increasing amount of Dec/Mar roll action (TYZ/TYH>313k so far). Equities

near steady (emini -0.50, 2600.5), gold firmer (XAU +6.52, 1295.31), oil weaker

(WTI -0.62, 58.33).

- Asia, Tsys opened steady/weaker, holding narrow range into London open. Flow

included 2-way trade in fronts to intermediates, Asian acct sales in 10s and end

user sales in long end.

- London, bear flatteners with fast$ and specs mixed flows in 5s and 10s. More

recent bid in long end likely following German Bund lead. Large 22.9k TYH Block

124-24 helped move to upside, first outright foray into 

- Swaps, spds running mildly tighter low end narrow overnight range, flow

included 2-way in 10s.

- Eurodollar futures, also trades steady/mixed, Whites through Reds (EDZ7-EDU9)

weaker on rather modest volume. LIBOR resumes climb, 1 Month +0.0091 to 1.3467%

(+0.0504 last wk), 3 Month +0.0096 to 1.4772% (+0.0269 last wk).