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Tsys continue to bounce from........>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys continue to bounce from intra-Powell press conference
lows, shooting higher this morning on a negative US-China trade headline.
- BBG sources piece boosted Treasuries, reporting China doubts a long-term trade
deal is possible with Trump, and will not budge on major structural reforms.
- Curves continue to flatten; 3M10Y down 3.3 bps at 14.793.
- The 2-Yr yield is down 0.6bps at 1.5918%, 5-Yr is down 1.8bps at 1.5881%,
10-Yr is down 3bps at 1.7417%, and 30-Yr is down 4bps at 2.2118%.
- Dec 10-Yr futures (TY) up 11.5/32 at 129-27 (L: 129-17 / H: 129-29.5).
- Our full FOMC meeting review will be out shortly.
- Personal income/spending, jobless claims, Challenger job cuts, & MNI Chicago
PMI are the key data points.
- FedSpeak on hold today but picks up Friday with Kaplan, Clarida, Quarles,
Daly, and Williams on the docket; also of course, nonfarm payrolls.

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