Tsys trading weaker into midday,....>

US TSYS SUMMARY: Tsys trading weaker into midday, off lows on modest risk-on

unwinds. Tsy bounce off lows last hour as equities sold off, partially tied to

drop in FANG shares ahead earning next wk for AMZN and GOOGL, story made rounds

China contemplating banning Apple products plus some unfavorable tech opinions. 

- Otherwise, US$ index remains strong (DXY +0354, 90.294; US$/Yen>107.61);

equitys lower (emini -21.5, 2671.5); gold weaker (XAU -8.81, 1336.78); West

Texas crude off lows/near steady (WTI +0.03, 68.32).

- Tsys opened mildly mixed,  middle of relatively narrow range after some

overnight chop tied to Gilts. Gilt volatility on BoE Gov Mark Carney comments

suggesting May rate hike not necessarily a done deal/could come later this year.

Short end Eurodlr buys (EDM8) after 3M LIBOR set -0.0023 to 2.3592%.

- After rejecting 10+ year lows early Wed, Tsy yld curves continue to bounce

(2s10s +1.622, 49.441; 2s30s +1.629, 68.291; 5s30s +.581, 34.744). Some weaker

hands unwinding flatteners while others are fading the move, expecting economic

slowdown after 2018 rate hikes have run course. Mixed two-way flow as 10YY

+.0317, 2.9415, 30YY up to 3.132%.