Tsys trade weaker, near late........>

US TSYS SUMMARY: Tsys trade weaker, near late overnight lows on moderate volume,

trailing weaker Bund timing around bounce in US$ vs. Yen in early London hours.

Otherwise, a quiet start to week, ahead FOMC annc Wed -- don't expect anything

from Atlanta Fed Pres Bostic speaking at event in Miami this morning; 1-, 3- and

6M bill auctions and limited second tier data that includes February Kansas City

Fed LMCI.

- US$ index weaker (DXY -.039, 90.194); equities under pressure (emini -13.5,

2742.5); gold lower (XAU -8.89, 1311.46); West Texas crude lower (WTI -.14,

62.20).

- Asia/London, Tys opened steady to mildly weaker, holding narrow range on light

two-way trade into the London open. London: fx-tied selling on USD/Yen bounce,

light overseas acct selling intermediates, 5s/ultra-Bond duration weighted

steepener block.

- Swaps, spds running mildly tighter. Decent late overnight action w/appr $500M

3s4s5s fly paying the belly, 2Y payer at 2.6195 and two-way in 5s between

2.8085-2.8195%.