Tsy trading mostly softer in lead up...>

US TSY FLOWS: Tsy trading mostly softer in lead up to NY open, scale buying in

Jun 2Y futures (106-15 to -106-15.12) helping steepen curve a bit. Light volume

w/Japan out for holiday following week (TYM<190k so far). Equities near recent

lows (SPX -1.5, 2940.0); US$ index mildly higher (DXY +0.036, 98.042).

- Tsys tracked German bunds bounce off lows in early London trade. 

- Aside from recent buying in TUM, overnight flow included bank portfolio buying

5s, prop and fast$ selling intermediates, some month end buying, rate paying in

2s.

- Relative quiet start to a busy data/event wk w/FOMC, PMI, ADP and NFP. On tap

for Monday: March personal income; current dollar Personal Consumption Exps',

total and core PCE indexes; Dallas Fed manufacturing index for April; 13- and

26W bill auctions. FOMC begins 2 day FOMC on Tuesday

- The 2-Yr yield is unchanged at 2.2821%, 5-Yr is up 0.3bps at 2.2916%, 10-Yr is

up 0.9bps at 2.5072%, and 30-Yr is up 0.9bps at 2.9319%.