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US Treasuries are trading...........>

US TSYS SUMMARY
US TSYS SUMMARY: US Treasuries are trading modestly lower with the exception of
the 2-yr which is little changed from US close, underpinned by Wednesday's FOMC
minutes. US 10-yr Tsy note yield is last 1.3bp higher at 3.006%.
- Overnight in Asian-Pacific session, US Tsy took another leg higher after WSJ
reported that the Trump admin is considering a plan to impose new tariffs on
imported vehicles. A North Korean diplomat suggesting that he would recommend
his country's leadership reconsider attending the upcoming US-NK summit also
aided bid in US Treasuries.
- Sentiment turned pretty rapidly though as the European session got underway as
markets took positives from the announcement of a new PM in Italy and news that
the finance minister may be the more moderate Luigi Zingales of U Chicago,
rather than eurosceptic Paolo Savona.
- Green and blue Eurodollars have reversed earlier move higher to now trade 0.5
to 1 tick lower, while white contracts are holding onto slight gains.
- US breakevens are little changed but swap spreads are touch tighter. Attention
now turns to US existing home sales and 7-yr Tsy note auction.

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