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Tsys see-sawed higher Friday,.......>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys see-sawed higher Friday, extending top-end session range
on light futures (TYU<635k), quiet summer trade and sidelined accts into the
semi-annual MonPol report release (Fed chair testimony Tue, July 17). No new
ground broken in report: policy remains accommodative, further gradual hikes,
yield curve "shifted up" while flattening continues/nears inversion. Mixed
messages from US Pres Trump: US/UK trade deal at risk on soft-BREXIT (later
denied), relationship w/PM May "very, very strong". 
- US$ index reversed early strength: DXY -0.080 to 94.747; US$/Yen see-sawed
lower -.27 to 112.28 (112.80H/112.34L); equities mildly higher (emini +5.0,
2803.5); gold weaker (XAU -6.16 1241.25); West Texas crude bounced (WTI +.46,
70.79).
- Light late wk flow included two-way/position squaring in fronts/intermediates,
option-tied selling, fund selling 30s; swap flys include 2s3s10s, 2s4s10s and
5s7s10s (rec belly). Tsy cash/ylds: 2Y 99-27 (2.578%), 5Y 99-16.75 (2.727%), 10Y
100-12 (2.829%), 30Y 103-25.5 (2.931%).

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