Tsys trades steady/mixed at the........>

US TSY FLOWS: Tsys trades steady/mixed at the moment, yield curves steeper with

short end mildly outperforming. Trade range rather narrow on day two of Fed

Chair Powell's testimony on the Hill -- same time as Michael Cohen, Pres Trump's

former attorney gives public testimony to congress.

- Equities softer (SPX -5.0, 2786.5), US$ index off late overnight lows (DXY

-0.15 95.988)

- Overnight flow rather muted, March/June roll action tapering off ahead Thu's

first notice, deal-tied buying in short end, fast$ two-way in 5s, swap-tied

selling in 10s, light 5s30s steepeners, month end buying in belly.

- On tap for Wednesday: Dec advance goods trade gap, advance wholesale and

retail inventories, factory new orders, NAR pending home sales index for

January. Fed Chair Powell, Mon/Pol and State of Economy testimony to the House

Financial Services Committee. 

- Tsy cash/ylds: 2Y 100-01.12 (2.480%), 5Y 99-21 (2.447%), 10Y 99-28 (2.637%),

30Y 99-27 (3.007%).