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Tsys extend overnight lows into the....>

US TSY FLOWS
US TSY FLOWS: Tsys extend overnight lows into the NY open as risk-on tone gains
momentum, global equities firmer on US/China trade hopes after Pres Trump
extends March 1 tariff increase deadline (little in way of additional
specifics). Heavy futures volume (TYH>610k) inflated as March/June roll
continues at good clip ahead Thursday's first notice date.
- On tap for Monday: Quiet start for data with wholesale inventories (0.2% est)
and wholesale sales; Dallas Fed manufacturing index for February. Treasury
13/26W bill and 2/5Y note auctions. Fed VC Clarida and Dal Fed Pres Kaplan tour
southern Dallas.
- Overnight flow included swap-tied buying in short end, fast$ selling 3s,
pre-auction short sets (dearth of corporate-tied hedging so far), prop and real$
selling out the curve. Ultra 10Y/Ultra 30Y block flattener.
- Tsy cash/ylds: 2Y 99-31.12 (2.512%), 5Y 100-00.75 (2.493%), 10Y 99-16
(2.681%), 30Y 99-04.5 (3.043%).

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