Tsys trading weaker, near recent....>

US TSYS SUMMARY: Tsys trading weaker, near recent lows on decent volume

(TYU>380k), yld curve dead cat bounce (?) after Mon's bull flattening. Tentative

risk-on w/global eq's firmer, sovs vs. Bund tighter, US$ weaker after Pres Trump

comments on Fed policy/lack of accommodation, Yen/Euro manipulation complaints.

- Another quiet data day w/Philly Fed Nonmfg Index and Redbook retail sales.

Focus still on minutes from Jul 31-Aug 1 FOMC (Wed at 1400ET), and annual eco

symposium in Jackson Hole, Wyoming that kicks off Thu night (event program will

be made available at 2000ET Thu, Fed Chair Powell open remarks at 1000ET Fri. 

-  US$ index choppy/off overnight lows, DXY -.371 to 95.528; US$/Yen +.20 to

110.27 (110.29H/109.78L); equities firmer (emini +5.5, 2864.0); gold firm (XAU

+2.16, 1192.67); West Texas crude (WTI +0.69, 67.12). 

- Asia/London flow, steady open w/rates under mild pressure early on in short

end, foreign real$ selling intermediates, domestic real$ and prop selling in 10s

and 30s during London hours. Sep/Dec Tsy roll resumes, Sep Tsy options expire

Fri. Tsy cash/ylds: 2Y 100-00.5 (2.612%), 5Y 100-01.5 (2.738%), 10Y 100-05

(2.855%), 30Y 99-24 (3.012%).