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Tsys trading mixed, off early..........>

US TSY FLOWS
US TSY FLOWS: Tsys trading mixed, off early overnight highs, yld curves
flattening out. Rates paring recent gains as equities rebound, mildly
higher/overnight highs. Early risk-off tone as WH advisor Lighthizer said 90-day
China tariff increase a "hard deadline" -- after more conciliatory comments from
Kudlow last Friday.
- New year lows for GBP/US$ (1.2638, Jun'18 lvls) following the delayed vote
rumors. Otherwise, relative quiet with the Fed in blackout; data on tap: Oct
JOLTS job openings level; Oct JOLTS quits rate; Dec NY Fed expectations survey;
$39B 13- and $36B 26W bill auctions.
- Overnight flow includes two-way in shorts to intermediates on moderate volume,
real$ -7s, bank and real$ bought 30s; rate receiving in 1s, 3s, 4s and 5s. 
- Tsy cash/ylds: 2Y 100-01.5 (2.723%), 5Y 100-25 (2.704%), 10Y 102-09.5
(2.856%), 30Y 104-19.5 (3.136%).

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