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Tsys trading moderately lower.......>

US TSYS SUMMARY
US TSYS SUMMARY: Tsys trading moderately lower into the bell, just off session
lows, strong volume (TYZ 1.54M). Large curve steepening today as 2s10s steepened
by 4.0bps while 5s30s jumped 2.0bps, both approaching their 50 day moving
averages; 10YY rises above 3.00%. Headline out this morning, "*CHINA SAYS
TARIFFS ON $60B OF U.S. GOODS EFFECTIVE SEPT. 24-BFW", led to slight risk-off
price action. 
-US$ higher DXY +.145, 94.641 (94.315L/94.729H), $/Eur slightly lower -0.0020 at
1.1663, $/Yen higher +.50 112.34, (111.67L/112.39H); equities higher (emini
+19.00, 2915.00 vs. 2917.75H); Gold down (XAU -4.34, 1197.14); West Texas crude
higher (WTI +0.88, 69.79).
-Tsy cash/ylds: 2Y 99-21.3 (2.799%), 5Y 99-4.5(2.936%), 10Y 98-16.5 (3.048%),
30Y 96-6.5 (3.197%).

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