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Tsys trading lower on a tight.......>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys trading lower on a tight range with low volume (TYU 525k),
curves mixed; Recent headline, "Treasuries Edge Lower as IG Issuance Slate
Builds for Second Day -BFW", highlights yesterdays IG pipeline which is expected
to reach $20-$25bn throughout the week;
-West Texas Crude has pared some early gains following headlines out of
Venezuela, "*VENEZUELA OIL PRODUCTION AVG. STANDS AT 1.5M BPD: MIN"-BN,
"*VENEZUELA WILL CONTINUE TO FULFILL ITS OPEP QUOTA: QUEVEDO"-BN, (WTI +0.30,
69.31, 69.83H/68.81L). New headlines have slowed the downtick, "*EIA CUTS 2018
U.S. CRUDE-OUTPUT EST. TO 10.68M B/D VS 10.79M"-BFW, "*EIA CUTS 2019 U.S.
CRUDE-OUTPUT EST. TO 11.7M B/D VS 11.8M"-BFW.
-VIX dropped below 11 this morning hitting its lowest level since January
(-0.13, 11.14, 11.24H/10.52L);
-DXY weaker -.240 to 95.118, US$/Yen have bounced off session lows (JPY -0.21,
111.19, 111.43H/110.99L); equities climbing (emini +11.75, 2,861.75); gold
stronger but has fallen off highs (XAU +4.80, 1212.31); Tsy cash/ylds: 2Y
99-29.5 (2.662%), 5Y 99-20 (2.830%), 10Y 99-08.5 (2.962%), 30Y 100-12 (3.105%). 

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