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Tsys are softer early Tuesday -.....>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys are softer early Tuesday - for the 2nd day, saw very high
futures volumes (esp TUs) and selling across the curve just prior to London
open.
- Stocks` climb (and Tsys` decline) has been interrupted by weak Home Depot
sales report, but S&P still set to open at a fresh record high (futs +0.3%).
- Bear flattening: The 2-Yr yield is up 1.2bps at 1.6104%, 5-Yr is up 0.5bps at
1.6403%, 10-Yr is unchanged at 1.8153%, and 30-Yr is down 0.4bps at 2.2954%.
- Dec 10-Yr futures (TY) down 3/32 at 129-7.5 (L: 129-05 / H: 129-13.5).
- On options front, most interest has been in large bearish ED midcurve 3-way
(blocked 02:29:00ET):
0EF0 98.375/98.25 ps v 98.75 C, bought for -0.5 in 40k.
- Yet another thin data slate, with Oct housing starts/permits at 0830ET.
- NY Fed` Williams participates in a moderated discussion at 0900ET.
- After initial constructive Tweet, Trump reverted to a more aggressive tone re:
matters surrounding the Fed following Powell meeting Monday.
- Also worth watching possible Senate vote on Hong Kong bill.

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