Tsys trade mixed for much of the....>

US TSYS SUMMARY: Tsys trade mixed for much of the session -- long end reversed

early weakness/traded strong from mid-morning on, curves scaling back small

portion of steepening over last couple weeks.

- Slow start for data and little react to multiple Fed speakers today: FED'S

HARKER SAYS U.S. LABOR MARKET HAS VERY LITTLE SLACK LEFT; DALLAS FED PRES

KAPLAN: "STRONG YEAR FOR GDP GROWTH THIS YEAR IN U.S., "DON'T BELIEVE INFLATION

IS GOING TO RUN AWAY FROM US", "FED REACHING ITS 2% INFLATION TARGET" Bbg.  NY

Fed President Williams will take questions at a NY Fed/Bank of Indonesia Central

Banking Forum in Tanjung Benoa, Indonesia later in the evening.

- Tsys took leg higher by midday, extended session highs as equities reversed

course, traded lower. Earlier had been strong program buy interest tied to Euro,

not the case in latter move. Prop, bank and real$ sporadic buyers long end, prop

flatteners in 2s and 5s vs. 10s. Light deal-tied flow.

- Tsy cash/ylds: 2Y 99-23.5 (2.885%), 5Y 99-05.25 (3.056%), 10Y 97-06.5

(3.206%), 30Y 93-02 (3.369%).