Tsys trading slightly higher on a...>

US TSYS SUMMARY: Tsys trading slightly higher on a tight range, light volume

(TYU 585k), curves steeper; keeping an eye on IG issuance pipeline which is

expected to reach $20-$25bn throughout the week; 

-West Texas Crude continues to fall (WTI -2.59, 66.58) following headline,

"China to Begin Tariffs on U.S. Oil Products, LPG From Aug. 23"-BFW". The

Chinese government will begin a 25% tariff on imports of U.S. refined products

including diesel, gasoline, and LPG's; 

-ITALY: BTP yields shot higher on comments by Deputy PM Di Maio, who vows to use

hardline tactics to win concessions from the EU on the upcoming budget. 2-Yr BTP

yields faring worst, up 6bps at 0.969%, with spreads over Germany widening

7.6bps at 156.5bps as Bunds pick up steam

-US$/Yen dropped to its lowest level since July, currently (JPY -0.41, 110.97,

111.44H/110.84L)

-DXY slightly stronger (+0.12, 95.198); Equities slightly lower (emini -1.75,

2,858.00); Gold lower XAU -1.00, 1209.96); Tsy cash/ylds: 2Y 99-29.5 (2.664%),

5Y 99-20 (2.830%), 10Y 99-07 (2.966%), 30Y 100-07.5 (3.112%).