Tsys finished mixed on average.........>

US TSY/RECAP: Tsys finished mixed on average volume by the bell, with T-Notes

going out at the low. The curve continued its grind flatter.

- There was little reaction to data, with focus on Fed Chair Powell at Jackson

Hole on Friday (full schedule due overnight). Fed's Kaplan suggested that the

Fed should be raising rates 3 to 4 times in the next 9 to 12 months, and that he

hopes the Fed can move to a neutral rate without inverting the yield curve.

Fed's Bostic highlighted that he exp. above trend growth.

- After the bell comments from the U.S.-China trade meeting pointed to little

progress, as the statement noted that the 2 counties had discussed how to

achieve fairness in trade.

- On the political front, late trade saw reports that U.S. President Trump has

been advised against pardoning Paul Manafort.

- Light 2-way positioning flow was noted, with continued option-tied flow ahead

of the Sep Tsy option expiry on Friday.

- The Eurodollar strip was steady, holding in a narrow range.

- T-Notes last 120.16+, 10-Year U.S. cash Tsy yields closed at 2.826%.