Tsys trading weaker across the......>

US TSYS SUMMARY: Tsys trading weaker across the curve, low end of narrow

overnight range on average volume (TYM appr 315k); coming up ahead the bell, ADP

private employ data (+235k whisper#) followed by Tsy quarterly refunding annc at

0830ET then settling in to await FOMC annc at 1400ET (no change expected, no

conf or SEP at this meeting).

- US$ index takes break from steady rise (DXY -.036, 92.413; US$/Yen 109.82)

w/some citing US Pres Trump could be subpoenaed by special counsel Mueller.

Risk-on nascent at the moment w/equities mildly higher (emini +1.5, 2653.75;

Gold firmer (XAU +5.40, 1309.31); West Texas crude mildly higher after Tue's

sell-off (WTI +0.17, 67.42).

- Asia, steady open, quiet side-ways trade with mild selling out the curve into

the London cross. London, continued selling, knock-on pressure from weaker

Gilts, spec selling short end, real$ selling out the curve, prices stable.

- Swaps, spds wider on light flow, little hedging a corp supply ebbs ahead FOMC

- Eurodollar futures, mildly lower, better sellers short end prior to 3M LIBOR

set/rebounds +0.0092 to 2.3629% (+0.0049/wk) w/sellers EDM8 from 97.64-.625.