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Very quiet midweek trade as futures....>

US TSY FLOWS
US TSY FLOWS: Very quiet midweek trade as futures drift around late session lows
after the bell, moderate volume (TYU 1.2M) as 10YY rebounds +.0653bp to 2.0503%,
curves mostly steeper. 
- Carry-over risk-on move after comments from Tsy Sec Mnuchin on US/China
(nothing concrete or even new: "hopeful will see a deal", Trump/Xi have "close
working relationship", Mnuchin told CNBC). Nevertheless, algos and fast$ running
with it, taking opportunity to reverse Tue's gains, long end currently back near
Mon's late highs. Yld curves mostly steeper.
- Little react to SF Fed Daly comments: "`UNCOMFORTABLE' INFLATION LOWER THAN
TARGET" bbg, "MAY HAVE TO DO MORE TO DRIVE INFLATION ABOVE 2% TARGET" bbg.
Meanwhile, short end pricing of 50bp cut at July FOMC continues to ebb (25Bp
still on the table).
- Soft $41B 5Y note auction (9128286Z8), awarded 1.791% vs. 1.785% WI (awarded
2.065% in May; 2.524% avg), bid/cover 2.35 vs. 2.38 previous (2.49 avg). 
- The 2-Yr yield is up 3.9bps at 1.7709%, 5-Yr is up 7.3bps at 1.7968%, 10-Yr is
up 6.4bps at 2.0485%, and 30-Yr is up 4.9bps at 2.5681%.
MarketsFixed Income Bullets
MarketsFixed Income Bullets

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