Tsys trading weaker, near low end...>

US TSYS SUMMARY: Tsys trading weaker, near low end narrow range on modest volume

(TYM>225k), quiet ahead Feb employ data (NFP +220k est, unemploy rate 4.1%, avg

hourly earn's 0.2%). Fed speakers include Chicago Fed Evans, Boston Fed

Rosengren ahead start of Fed media blackout that starts Saturday.

- US$ index adding to Thu's bounce (DXY +0.54, 90.233); equities little firmer

(emini 1.25, 2745.5); gold softer (XAU -3.25, 1318.70); West Texas crude small

bounce after two-day rout (WTI +0.57, 60.69). 

- Asia, rates opened mildly higher, pared gains/traded weaker soon after,

intermediates trading sideways into London crossover. Sources reported modest

2-way flow after initial flurry of bank portfolio and real$ selling in 10s, 30s.

- London, Tsys remained under pressure, long end underperforming on modest

volume. Mild dip buying in intermediates after better foreign acct selling in

short to intermediates.

- Swaps, mildly tighter for the most part, light flow w/payers in 8-10s.

Eurodollar futures, mildly lower/middle narrow overnight range, better EDH8

selling post 3M LIBOR +0.0173 to 2.0887% (+0.0635/wk).