Tsys weaker across the curve all....>

US TSYS SUMMARY: Tsys weaker across the curve all session amid much better

volume (TYM>1.2M) w/London back from extended Easter holiday. Still, rather

quiet/mixed trade ahead Fri's March NFP (+195k est) and AHE (+0.3%) as well as

Fed chair Powell on economic outlook at 1330ET.

- Equities made several attempts to recover from Mon's sharp sell-off -- gapped

higher late (eminis +42.75 to 2617.75); gold weaker (XAU -10.42, 1330.83); West

Texas crude rebounding from Mon's drop (WTI +0.55, 63.55). 

- Limited react to second tier data: Redbook Mar store sales +0.4%; Fed speak

w/MN Fed pres Kashkari saying wasn't "clear how tight labor market really is."

- Decent corp issuance pick-up w/$6.05B General Mills Inc 8-tranche launch,

two-way hedging flow. Modest fast$, prop acct squaring in short to

intermediates. 

- Decent selling short end Eurodollar futures w/3M LIBOR +0.009 to 2.3208%; NY

Fed starts Secured Overnight Financing Rate (SOFR): 1.80%, $849B. Heavy option

volume targeting Jun'19 to rpice in more rate hikes.

- Late ylds: 2Y 2.286%, 3Y 2.413%, 5Y 2.606%, 7Y 2.729%, 10Y 2.786%, 30Y 3.022%