US Treasuries are trading mixed.....>

US TSYS SUMMARY: US Treasuries are trading mixed in what has been a rather

subdued trading session with limited data or official comments seen to direct

markets. US 10-yr note is little changed from Friday closing level at 2.9469%

with yield curve slightly steepening as 2-yr yield raises by 0.6bps.

- US Tsys operated in a limited range during Asia with little in the way of

fresh catalysts to generate any notable trading impetus, with the cash curve

undergoing some minor bear flattening.

- There was downside interest in Tsy options, expressed via a block trade of the

TYZ8 118/117 1x2 put spread overnight, with ~1.9K of the strategy blocked.

- Tsys recovered modest losses to trade little changed during London morning

session and then pretty much drifted sideways with a lack of data or official

comments seen to direct markets. There was some outright buying in TYU8 at

119-21 contract but there was no appetite to take it higher. 

- Eurodollar futures have recovered majority of earlier small losses but volume

has been light. Strip is a touch flatter as Green/Blues are steady to +0.5 tick.