Tsys have been rangebound so far....>

US TSYS SUMMARY: Tsys have been rangebound so far Wednesday.

- Tight range for futures (TY up 4.5/32 at 129-02: L: 128-30/H: 129-05). A bit

of a breather following three days of selling off with little in the way of

newsflow and data. Curve a little steeper with 10-Yr segment underperforming.

- In cash, the 2-Yr yield is down 1.6bps at 1.6086%, 5-Yr is down 1.5bps at

1.6492%, 10-Yr is down 1.4bps at 1.8442%, and 30-Yr is down 1.7bps at 2.3214%.

- $27bln 10-Yr Tsy (912828YS3) sale at 1300ET worth noting, follows decent 3-Yr

auction Wednesday.

- Pretty quiet on the data front, just Unit Labor Costs/Nonfarm Productivity

figures at 0830ET.

- Decent Fed slate: at 0800ET Chicago`s Evans speaks at the Council on Foreign

Relations in NYC; at 0930ET NY`s Williams in Q&A at WSJ event; at 1515ET Philly

Harker speaks on "Rethinking Workforce Investments" (text released). Later,

1830ET sees Williams again, intro remarks at GARP Global Risk Forum (w text).

- Also, 0900ET sees NY Fed Exec VP Rosenberg on risk management (with text).