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Tsys trading mildly weaker across...>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys trading mildly weaker across the curve, mid- to upper half
narrow range on very light volume (TYM less than 180k so far). US$ index mildly
higher (DXY +.022, 89.447); equities firmer (emini +12.5, 2694.25); gold weaker
(XAU -3.81, 1342.16); West Texas crude near steady (WTI +.05, 66.27).
- Participants plying sidelines ahead crowded Fed speaker docket: SF Fed Pres
Williams NABE-Bank of Spain, 0915ET; Phil Fed Pres Harker, Saint Joseph Univ,
Phil, 1100ET; Chi Fed Pres Evans, Chi Rotary Club Luncheon, 1340ET; Fed Vice
Chair/Sup' Gov Quarles, semi-ann testimony Hse Fin'l Services Comm 1000ET.
- Asia, quiet two-way flow on sideway market action through London open, PBOC
annc reserve req ratio cut of 1% for qualified banks.
- London, Tsys followed EGBs, trading mildly lower on narrow range, watching
global equities rise ahead corp' earnings. Light FX- and deal-tied selling 
- Swaps, spds mixed, wings wider vs. belly, flowpayer in 2s at 2.6925%, appr
100k DV01 2s5s flattener.
- Eurodollar futures steady/mixed, short end buyer post 3M LIBOR set +0.0003 to
2.3554% (+0.0026/wk).

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