Tsys steady/mixed at the moment,....>

US TSYS SUMMARY: Tsys steady/mixed at the moment, recovering from London morning

lows to near top end of range, bit of a lull in month-end buying that helped

push Tsy ylds lower while equity rout taking a breather as well.

- US$ index paring some of Wed's late gains (DXY -.128 to 95.162; US$/Yen near

high of 110.24 vs. early dip to 109.97L); equities little firmer (emini +2.5,

2707.5); gold mildly weaker (XAU -0.18, 1252.11); West Texas crude near steady

after strong gains last 2 days (WTI -0.02, 72.74.

- Asia, quiet start as usual, light volume/sideways 2-way trade. Tsys made early

attempt to rally when US$/Yen slipped below 110.0 briefly, early Block buy 5k

TUU 105-31.75. 

- London, choppy trade on relatively narrow range, decent futures volume,

however (TYU>375k). Waiting for renewed month end buying, two-way flow w/little

momentum. Swap spds running wider, spd curve flatter w/short end seeing broadest

moves following better rate paying in 2s at 2.7695% earlier and 2s5s flatteners;

steepeners in short intermediates: 5s7s and 7s8s. Tsy cash/ylds: 2Y 99-31.75

(2.500%), 5Y 99-20.5 (2.702%), 10Y 100-12 (2.829%), 30Y 102-31.5 (2.973%)