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Tsys firmer, near top end of range.....>

US TSY FLOWS
US TSY FLOWS: Tsys firmer, near top end of range after see-sawing in narrow band
through much of Asia session. Rates broke range/traded higher early London hours
as US$/Yen traded lower (112.32L), sell-off in equities adding to a general
risk-off tone (SPX currently -31.25). Note VIX gaining, currently +1.85, 21.95.
- Heavy overnight volume in TYZ futures, appr 750k at moment, highest volume of
98k at 119-07, rally kicked off w/Block buy of 7,440 TYZ 119-08.5 w/futures
climbing to 119-14 in short order.
- Other overnight flow included mild selling 2s, two-way in 5s-10s, swap-ties
buying in 10s-20s on light size, mild deal-tied flow in mix, 2s10s and 5s30s
flatteners, and modest Dec/Mar futures roll volume so far.
- Another muted day for data w/Oct housing starts and building permits,
Philadelphia Fed Nonmfg Index and Redbook retail sales.
- Tsy cash/ylds: 2Y 100-05.5 (2.783%), 5Y 100-02.75 (2.854%), 10Y 100-23
(3.039%), 30Y 101-13.5 (3.299%).

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