Tsy weaker across the curve after......>

US TSY FLOWS: Tsy weaker across the curve after the bell, near second half lows.

Weaker Gilts/Bunds helped get ball rolling earlier as did Carry-over/or

resumption of selling after yesterday's FOMC minutes that were deemed less

dovish than expected. Heavy corporate issuance (and $8B 30Y TIPS auction) added

additional pressure along w/option-tied hedging ahead Fri's March Tsy option

expiration. 

- Rolling will most likely continue unabated ahead Feb 28 first notice date But

current trade evaporating after London close -- and ahead Fri's head-line item.

Release of Fed's semiannual policy REPORT ahead of Chairman Powell's testimony

on Feb 26. That said .. DC colleagues don't think much will be drawn from the

report to Congress Fri, usually a dull recap of all FOMC has done last 6 mos.

- Note on swap spds, short end has narrowed back to 3-year lows, 2Y spd

currently -1.25 at 9.81, the 10Y spd nearly inverted again, also tied to

incoming swappable supply.

- Tsy cash/ylds: 2Y 99-30.25 (2.527%), 5Y 99-30.25 (2.510%), 10Y 99-13.5

(2.690%), 30Y 99-02 (3.047%).