Tsys finish higher/ off top end.....>

US TSYS SUMMARY: Tsys finish higher/ off top end of range ahead next wk's policy

annc from Fed, BoE, BoJ; July NFP next Fri. Futures gained upward momentum

second half as US$ trades lower w/eq's caving on program selling, along w/crude,

potential month end cross asset flow. Note, VIX rallied but off session highs

(+1.29, 13.43, 14.26H).

- Ylds fell after Q2 adv GDP gained +4.1% -- but +4.4% (est) or higher expected

after Pres. Trump telegraphed since Sunday. GSP up from an upward revised +2.2%

(prev +2.0%) in Q1, as the GDP price index +3.0% vs +2.1% expected and +2.0% in

Q1.

-  US$ index reversed direction, DXY -.123 to 94.6662; US$/Yen weaker, -.22 to

111.01 (111.25H/110.80L); equities off lows (emini -23.5, 2819.5, 2808.75L);

gold steady (XAU +0.08, 1222.72); West Texas crude slides (WTI -0.77, 68.84).

- Decent first half trade, short cover/outright buying post data, two-way curve

flow, rather decent swap-tied flow w/spds forging wider amid heavier rate paying

in front end, heavier upside option trade. Tsy cash/ylds: 2Y 99-28.75 (2.673%),

5Y 99-17.25 (2.848%), 10Y 99-08 (2.962%), 30Y 100-21 (3.090%).