Tsys were broadly lower on Thursday,...>

US TSY/RECAP: Tsys were broadly lower on Thursday, with the curve finishing

steeper on decent enough volume, as 10-Year yields closed above 2.90%.

- Tsys opened weaker, following Bund/Gilt sell-off during early London hours.

- Tsys ratcheted lower, with part of the move technically based, with added

pressure from FX.

- Fed Governor Brainard noted that inflation exp. were well anchored, but cited

some signs of imbalances.

- Notable flow included CTS stop-outs in the intermediate to long end, with

curve play unwinds seen. Real money & bank accounts were sellers of 10- &

30-Year paper.

- The Eurodollar strip was steady/mixed in the short end and lower/off lows out

the strip after the bell.

- Fed voter Mester is due in Asia-Pacific hours, with non-voter Evans due to

speak on Friday.

- T-Notes last at 119.27+, US 10-Year yield last at 2.910%.