Tsy trading weaker, low end moderate...>

US TSY FLOWS: Tsy trading weaker, low end moderate range, deceptively decent

volume tied to big jump up in March/June roll activity. Tsys trailed Bunds and

Gilts earlier, drew mild bid around Fed Bullard comments earlier while equities

pared gains. Bonds getting extending lows pre-data.

- Aside from heavy roll trade already, sources report bank portfolio buying in

5s, deal-tied selling in belly, prop and real$ selling 10s and 30s.

- On tap for Thursday: Data releases surge with weekly claims (229k est);

Philadelphia Fed Mfg Index (14.0 est); Durable goods/new orders; Markit

Manufacturing and Services index; existing home sales (4.98M est); leading

indicators (0.2% est).

- Tsy cash/ylds: 2Y 99-30.75 (2.518%), 5Y 99-30.75 (2.500%), 10Y 99-16 (2.681%),

30Y 99-15 (3.026%).