Tsy trade mildly weaker across the.....>

US TSY FLOWS: Tsy trade mildly weaker across the curve after the bell, near

midmorning lows tapped again after the Jan FOMC minutes; yld curves well off

steeper levels. Take away March/June roll trades and volume rather muted.

- Earlier two-way trade in lead-up to minutes, deal-tied selling, curve

steepeners, short covering in front end, earlier program and prop selling in

long end as equities near 3 month highs. Decent Tsy futures volume for midday

largely due to surge in March/June rolling. Better buying upside calls on net.

Despite reversal in short end post 3M LIBOR higher set, March Eurodollar futures

back higher.

- Bbg headline: "SEVERAL OFFICIALS SAW 2019 RATE HIKE IF ECONOMY STAYS ON TRACK"

lent to bounce in US$ index and fresh selling in Tsys, yld curves pared

steepening. Tsys held range, however. Note another Bbg headline that "MANY FED

OFFICIALS UNSURE WHAT RATE ADJUSTMENTS NEEDED THIS YR." Not surprising given

disruption of economic data flow due to longest US gov shutdown in history.

- Tsy cash/ylds: 2Y 99-31.88 (2.500%), 5Y 100-04.25 (2.469%), 10Y 99-25.5

(2.646%), 30Y 100-01 (2.998%).