Tsys ended Wed lower after choppy...>

US TSYS SUMMARY: Tsys ended Wed lower after choppy morning trade then quieter

range with varied curve trades, front end sales, 10Y futures sales, then some

front end dip buying. Thu is Fed Chr Yellen meeting with Pres Trump; time not

known; may be published 11pm ET Wed on White House meeting schedule. Yellen is

last of 5 final Fed Chr potentls to meet/interview with Trump about such post. 

- Tsys began weaker then NY Fed Dudley said "no reason" US expansion has to end

of old age, said Fed to hike 3x in 2017. Heavy TYZ 10Y futures selling: 50K+

sold from 125-02.5 to 125-01.5. Stops hit on downturn, longs exit. Fast/real$

sellers in 5-30s, insur. portf sales in 10Y, 30Y; flattener unwinds too. Earlier

mild FX-tied sales in Tsys as $ rose. Moderate high-grade corporate bond

issuance. 

- Eurodlr optn: 1:37pm ET block sale of 13,550 Blue Jun 73/76 put sprds, 9.5 vs

97.64p; adds to 75K sold in pit earlier. (125K sold since Oct6: ?rolldown lg leg

76/80 3x2 put spd macro fnd sold mid-Sep. 

- SWAPS:Tighter,rcvg/payer unwind 5s,7s,10s. TSYS 3pm ET:2y 1.563%,3Y 1.703%, 5Y

1.987%, 7Y 2.188%, 10Y 2.339%, 30Y 2.851%