US TSYS: OPEC EXPECTED TO CUT OUTPUT

US TSY SUMMARY: Tsy trading slightly higher into the bell, in the middle of the

range with strong volume (TYZ 1.21M), curves mixed. Data today led by US

Manufacturing, Services, and Composite PMI which all came in weaker than

expected; Canada CPI came in stronger than expected while Retail Sales came in

mixed;

-UK Prime Minister May answered questions today saying, "*MAY: BREXIT DEAL

DELIVERS WHAT PEOPLE VOTED FOR, PROTECTS JOBS" and "*MAY: IF PARLIAMENT REJECTS

DEAL, WE'RE `BACK AT SQUARE ONE'"-bbg

-Oil touched its lowest level since October 2017, despite headline out this

morning, "Total CEO Expects 'Significant' Oil Output Cut from OPEC, Russia-bbg".

WTI currently down (WTI -3.51, 51.12).

-DXY up +.221, 96.933 (96.403L/96.959H), $/Eur down -0.0069 at 1.1334, $/Yen

down -.10 112.85; equities lower (emini -19.50, 2629.50 vs. 2656.25H); Gold

down(XAU -4.37, 1223.08)

-Tsy cash/ylds: 2Y 100-03.75 (2.811%), 5Y 99-31.75 (2.873%), 10Y 100-20

(3.050%), 30Y 101-8.5(3.306%).

US TSY FUTURES CLOSE: Trading slightly higher in the middle of the range; strong

volume (TYZ 1.19M); curves mixed; update:

* 2s10s -1.279, 23.398 (22.624L/25.013H);

* 2s30s -1.081, 48.950 (47.432L/50.217H);

* 5s30s +0.466, 42.910 (41.245L/43.082H);

Current futures levels:

* Dec Ultra bonds up 01/32 at 151-22 (151-08L/152-16H)

* Dec 30-yr Bond futures up 04/32 at 140-01 (139-22L/140-17H)

* Dec 10-yr futures up 02/32 at 119-9.5 (119-04L/119-14.5H)

* Dec 5-yr futures up 1.75/32 at 112-28.25 (112-25L/112-30.75H)

* Dec 2-yr futures up 0.25/32 at 105-15 (105-14.5L/105-16.24H)

US EURODOLLAR FUTURES CLOSE: White pack trades mixed while reds through golds

trade mildly higher on moderate volume. Current White pack (Dec'18-Sep'19):

* Dec'18 -0.0100 at 97.2325

* Jun'19 0.000 at 97.160

* Jun'19 +0.010 at 97.070

* Sep'18 +0.015 at 97.000

* Red pack (Dec'19-Sep'20) +0.020

* Green pack (Dec'20-Sep'21) +0.020-0.015

* Blue pack (Dec'21-Sep'21) +0.020-0.015

* Gold pack (Dec'22-Sep'22) +0.015

US DOLLAR LIBOR: Latest settles,

* O/N -0.0035 to 2.1770%

* 1 Month +0.0070 to 2.3219%

* 3 Month +0.0019 to 2.6912%

* 6 Month -0.0010 to 2.8863%

* 1 Year  +0.0104  to 3.1208%

     US TSYS: *** /REPO REFERENCE RATES: (rate, volume)

* Secured Overnight Financing Rate (SOFR): 2.18% vs. 2.20% prior, $819B

* Broad General Collateral Rate (BGCR): 2.17% vs. 2.18% prior, $406B

* Tri-Party General Collateral Rate (TGCR): 2.17% vs. 2.18% prior, $401B

PIPELINE: No New Issuance Thursday or Friday

     OUTLOOK:

26-Nov 1030 **  Nov    Dallas Fed manufacturing index          29.4    --

Eurodollar/Treasury Option Summary

Eurodollar options, Pit/Screen: 

* 10,000 Short Mar 63/65/66 put fly at 1

* 10,000 Short Dec 67/68 2x1 put sprd at 2

* 4,000 Red Dec 65 puts at 5.5

* +10,000 Short Dec 72 calls at 0.5

* 20,000 Short Dec 67 puts at 1 vs 9393/0.10%

TSY OPTIONS:

* +35,000 FVH 104 puts at Cab7

* -14,000 TYG 118 calls at 133

* Total >57,000 TYF 119.5 calls at 24

* Total >30,000 TYG 121.5 calls at 10

* 10,000 TYH 125 calls at 3 vs 119-12.5/0.07%

--MNI Chicago Bureau; +1 630-698-0154; email: ryan.martin@marketnews.com

[TOPICS: MTABLE,M$U$$$,M$$FI$,MN$FI$,MN$FX$]