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Tsys mildly higher, near late O/N...>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys mildly higher, near late O/N highs after trading weaker in
Asia hours. Tsy 10YY tapped new/near 7 yr high of 3.1261% as US$/Yen neared
111.0 earlier; 10YY recedes to 3.100% even as US$/Yen climbed to 111.08 during
London hours. Limited data today (GDP Now forecasts), multiple Fed speakers
round out the wk; May FOMC minutes next Wed.
- US$ index near recent highs (DXY +.135 93.604;); equities firmer (emini +3.5,
2722.25), West Texas crude little higher (WTI +0.08, 71.57); gold weaker (XAU
-3.81, 1286.94).
- Asia, weaker open on decent volume, better selling 10s, steepeners followed by
two-way into London crossover.
- London, Tsys rebound in early trade, better buying in shorts/intermediates
through morning hours, two-way in long end by props, real$, long end steepeners.
- Swaps, spds tighter, spd curve unwinding portion wk's flattening, bank
portfolio paying 3s earlier
- Tsy cash/ylds: 2Y 99-20.5 (2.561%), 5Y 99-06.2 (2.924%), 10Y 98-02 (3.102%),
30Y 97-23.5 (3.242%)

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