Tsy futures trading weaker, curve......>

US TSY FLOWS: Tsy futures trading weaker, curve paring some of Mon's steepening

amid continued light pre-holiday volume (TYH<160k), long end giving up recent

bid. Equities little firmer (emini +2.25, 2696.75), gold firmer (XAU +1.33,

1263.77), oil firmer (WTI +0.37, 57.53). Mkts await tax overhaul bill vote in

House at 1330ET followed by Senate vote.

- Asia, Tsys opened mixed, holding narrow range into London cross over. Interest

in fading Mon's steepening evident, flow included buyers of 30s, 5s30s

flatteners, two-way in short en, Asian central bank buying 5s, institutional

accts sold short end vs. 5s and 10s, Asia real$ bought long end.

- London, carry-over bid in long end, long end Tsy futures making new overnight

highs last hour.

- Overnight repo 2s continue tight into next week's 2/5/7-year note auctions.

- Swaps, spds running steady to mildly wider, narrow range on light volume: 10Y

switch around 2.3845-2.4150%,receivers in 5s from 2.2255-2.2280%.

- Eurodollar futures, large sale last few minutes: -20k EDM8, 98.065 (-0.015),

98.06 low.