US TSYS: TRADE SPAT BUOYS TSYS, US$/YEN YR LOWS

     US TSY SUMMARY: Tsys yields fell w/ US$/Yen, latter back to year lows this

morning in concert w/headlines (109.83 last, -.72) but have slowly gained since

(110.05, -.50). DXY began the day strong (+.457, 95.213) but has since pared

gains (+.264, 95.020). Fears of trade war with China remain as US President

Trump threatens another $200B in tariffs.

US TSY FUTURES CLOSE: Higher, near mid-range. Curves remain mixed; update:

* 2s10s -1.762, 34.585 (33.977L/36.634H);

* 2s30s -1.725, 47.826 (47.417L/49.846H);

* 5s30s +0.498, 25.983 (25.130L/26.885H);

Current futures levels:

* Sep Ultra bonds up 24/32 at 158-09 (157-24L/159-09H)

* Sep 30-yr Bond futures up 17/32 at 144-03 (143-23L/144-25H)

* Sep 10-yr futures up 09/32 at 119-28 (119-21L/120-06H)

* Sep 5-yr futures up 05/32 at 113-12.75 (113-09L/113-20H)

* Sep 2-yr futures up 01/32 at 105-27.75 (105-26.75L/105-30.75H)

US EURODOLLAR FUTURES CLOSE: Steady to higher across the strip near the middle

of the range, parallel shift between Reds through Golds (+0.030-0.045). Current

White pack (Sep'18-Jun'19):

* Sep'18 0.000 at 97.530

* Dec'18 +0.010 at 97.345

* Jun'19 +0.015 at 97.215

* Jun'19 +0.025 at 97.120

* Red pack (Sep'19-Jun'20) +0.040-0.030

* Green pack (Sep'20-Jun'21) +0.045-0.040

* Blue pack (Sep'21-Jun'21) +0.040-0.035

* Gold pack (Sep'22-Jun'22) +0.040-0.035

US DOLLAR LIBOR: Latest settles,

* O/N +0.0033 to 1.9288% (+0.0032/wk)

* 1 Month +0.0041 to 2.0878% (+0.0029/wk)

* 3 Month +0.0055 to 2.3302% (+0.0043/wk)

* 6 Month -0.0018 to 2.4950 (-0.0087/wk)

* 1 Year -0.0093 to 2.7625% (-0.0097/wk)

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

* Secured Overnight Financing Rate (SOFR): 1.90% vs. 1.91% prior, $799B

* Broad General Collateral Rate (BGCR): 1.85% vs. 1.87%, $376B

* Tri-Party General Collateral Rate (TGCR): 1.85% vs. 1.87%, $364B

PIPELINE: $15B Bayer AG 8-tranche priced late Monday,

Date $MM Issuer/Rating/Desc/Maturity/Yld/Leads; Priced *; Launch #:

06/19 $Benchmark Finnvera 5Y +17a

06/19 Chatter Walmart to follow up Bayer with another jumbo issuance

-

$16B priced Monday, Bayer lead

06/18 $15B *Bayer US Finance 8-part, to "simplify its capital structure" after

$63B Monsanto buyout:

      $1.25B 3Y fix +85, $1.25B 3Y FRN L+63, $2.25B 5.5Y fix +115, $1.25B 5.5Y

FRN L+101, 

      $2.5B 7.5Y +140, $3.5B 10.5Y +155, $1B 20Y +170, $2B 30Y +185

06/18 $1B *Duke Energy Florida, $600M 10Y fix +90, $400M 30Y fix +115

OUTLOOK: Data/speaker calendar (prior, estimate): 

- Jun 20 15-Jun MBA Mortgage Applications (-1.5%, --) 0700ET 

- Jun 20 Q1 current account balance (-128.2B USD, -129.0B USD) 0830ET 

- Jun 20 Fed Chair Powell, "MonPol at Time of Uncertainty/ Tight Labor Mkts",

Portugal, Q&A. 0930ET 

- Jun 20 May existing home sales (5.46m, 5.49m) 1000ET 

- Jun 20 15-Jun crude oil stocks ex. SPR w/w (-4.14m bbl, --) 1030ET

--MNI Chicago Bureau; tel: +1 312-431-0089; email: bill.sokolis@marketnews.com

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