Tys trade weaker on the back of.....>

US TSYS SUMMARY: Tys trade weaker on the back of stronger US$ (DXY +.403,

92.243; US$/Yen 109.667), very light volume (TYM<135k) w/much of Asia still out

for extended holidays, much of Europe shuttered for May-day holiday (reminder,

Japanese mkts closed Thu-Fri for public holidays). Focus on NA lt vehicle sales,

manufacturing/construction data, start of two-day FOMC (no change expected).

- Equitys mildly firmer (emini +2.0, 2649.0); gold weaker (XAU -6.71, 1308.65);

West Texas crude weaker (WTI -0.59, 67.98) after surging Mon on middle-East

tensions w/Israeli airstrike against Syrian positions, saber rattling against

Iran re: secret nuclear program.

- London, sideways trade/narrow range w/EGBs, earlier block buy 2.5k TYM

119-17.5, buy through post time offer of 119-17.

- Swaps, running mildly tighter across the curve, recent 2Y switch around

2.755-.7438%, payer in 3s at 2.8504%,  bank receiver in belly

- Eurodollar futures, steady/mixed, short end bid post 3M LIBOR -0.0092 to

2.3537% (-0.0043/wk)

- Late ylds: 2Y 2.490%, 3Y 2.627%, 5Y 2.801%, 7Y 2.915%, 10Y 2.955%, 30Y 3.120%