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Tsys ylds near highs (10YY.............>

US TSY FLOWS
US TSY FLOWS: Tsys ylds near highs (10YY 2.587%)/futures at/near lows on very
light volume (TYM<535k) w/London out for Easter Monday. Yld curves extend
steepening late. 
- Equities mildly weaker (SPX -1.0, 2909.0); USD index softer (DXY -.090,
97.288); West Texas crude climbs to late Oct'18 levels (+1.75 at 65.75/65.92H)
after US annc Sunday they would end Iran oil sanction waivers on 5 nations.
Desks note decent correlation between 10Y TIPS B/E and WTI over last several
months.
- Very quiet start to week, no lead from London out for Easter holiday, limited
data wk finishes w/ Q1 GDP adv Fri, Fed in blackout; Japan starts Golden week
holiday on April 27.
- Rather decent buying Eurodollar Whites, fast$ flattener unwinds short end.
- On tap for Tuesday: April Philadelphia Fed Nonmfg and Richmond Fed Mfg Index;
Redbook retail sales m/m; several housing price, sale and building data.
- The 2-Yr yield is up 0.6bps at 2.3866%, 5-Yr is up 1.4bps at 2.3846%, 10-Yr is
up 2.9bps at 2.5885%, and 30-Yr is up 3.2bps at 2.9927%.

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