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Tsys have traded without clear......>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys have traded without clear direction in European hours
after a sedate Asia-Pac session, edging slightly up overall ahead of CPI data.
- Hong Kong and Argentina concerns (in addition to all the other lingering
geopolitical issues), plus weak German ZEW survey data this morning, have
continued to underpin the US curve alongside other global core FI.
- 30-Yrs outperforming, and now nearing the 2016 low of 2.0882%: 2-Yr yield is
down 1.2bps at 1.5713%, 5-Yr down 0.8bps at 1.4844%, 10-Yr down 1.7bps at
1.6284%, and 30-Yr down 3.1bps at 2.1013%.
- Sep 10-Yr futures (TY) steady at at 130-12 (L: 130-07 / H: 130-17).
- Equities remain under pressure, S&P futures off 0.2%; dollar mixed.
- July CPI highlights at 0830ET: core expected to rise 0.2% M/M (0.3% prev.),
headline up 0.3% (0.1% prev.).
- BBG sources piece out earlier on Volcker Rule changes to ease banks` trading
rules had little immediate market impact.
- No FedSpeak scheduled.

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