Tsys broadly higher after the bell,....>

US TSY FLOWS: Tsys broadly higher after the bell, took a few minutes for curve

flattening rally to take hold after Fed hike of .25 bps (funds range to

2.25%-2.50%), SEP: 2 more for 2019. Generally speaking, annc not as "dovish" as

anticipated/priced in. 

- US$ rebounded, while equities slower to react, pared gains but still traded

higher for several minutes ahead Fed chair conf. Yld curves pancaked as lonf end

gapped higher. 

- Large TUH/FVH steepener block on close: +16,750 TUH9 at 105-28.5, post time

offer, -14,750 FVH9 at 114-02, sell through -02.5 post time bid.

- A lot of vol for swap spds on day, mixed by the close/well off second half

wides/mildly wider in wings vs. tighter 5s-10s. Spds gapped wider into midday.

Decent round trip across the curve. Move corresponded w/midday turn in rates,

large payer 2s at 2.79062% including decent selling in Eurodollar Reds

(EDH0-EDZ0), heavy flurry two-way fly trades.

- Tsy cash/ylds: 2Y 100-06 (2.652%), 5Y 101-03 (2.637%), 10Y 103-00.5 (2.771%),

30Y 107-10.5 (3.000%)