With the beginning of Jackson.......>

US TSYS SUMMARY: With the beginning of Jackson Hole awaiting this evening, and a

few key FOMC speakers on tap, Treasuries are fairly flat early Thursday.

- Sep 10-Yr futures (TY) down 1.5/32 at 130-15.5 (L: 130-13.5 / H: 130-23.5);

fairly choppy trading seen all morning. Slightly better-than-exp. Eurozone Aug

flash PMIs helped sustain early weakness.

- Early headlines that 'China will take corresponding countermeasures' if U.S.

hikes tariffs on Chinese imports didn't move the needle much.

- Fairly limited movement in the curve; The 2-Yr yield is down 0.6bps at

1.5669%, 5-Yr is down 0.3bps at 1.4701%, 10-Yr is down 0.5bps at 1.5842%, and

30-Yr is down 0.2bps at 2.0702%.

- 2s10s back in positive territory...just; 3M10Y came near cycle lows.

- Stocks off slightly (S&P E-mini down 0.2%).

- Plenty of FedSpeak ahead of Jackson Hole kicking off this evening; first up

are K.C. Fed Pres George on CNBC/BBG (0730ET) and Phil. Fed Pres Harker (1000ET)

on CNBC. Full schedule of what we know so far published 0623ET on MNI Bullets.

- Jobless claims at 0830ET; Markit flash Aug PMIs out at 0945ET.