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*** Tsys had recovered some ground.....>

US TSY FLOWS
US TSY FLOWS: *** Tsys had recovered some ground as equities cratered last half
hour, but scale sellers in rates reload. Multiple factors at play here.
Hurricane Michael a trigger for both rate and equity sale. Michael had jumped
quickly from category 1 to category 3 as it entered the golf of Mexico with
massive damage expected when it makes landfall somewhere in panhandle of
Florida. One long-time market watch notes that past storms spurred "fixed income
selling as insurance companies sell bonds to raise cash to pay claims. However,
the 'risk-off' sentiment could clearly accelerate from here given new recent
lows in stocks." Scale sellers in rates remain in force, however, deal- and Tsy
supply hedgers also adding to pressure.

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