U.S. Mid Morning Recap by Trade the News Staff - Treasury futures are performing well today amid relative weakness in U.S. equities, jitters over Iran's nuclear program and a report that the U.S. plans to place anti-ballistic missiles in Poland and in the Czech Republic. Major powers and Germany are set to meet on Monday to discuss a next round of sanctions against Iran for refusing to halt uranium enrichment activities after the U.N. imposed deadline passed unheeded on Wednesday. . With respect to the U.S. plans to place missiles in Poland and the Czech Republic, Russia in the last week has publicly opposed such a move by threatening to pull out of the nuclear non-proliferation treasury. In terms of flows, dealers have confirmed foreign central bank buying, including Latin America and Europe, in intermediate Treasuries, which is said to have led to short-covering. European debt futures are trading higher today after the German IFO Business Climate Index fell more than expected in March and following a downward revision to Q3 GDP in the U.K. The 30Y future is up 18 ticks at 111 20/32, the 10Y future is rising 10 ticks to 107 21/32 and the 2Y future is higher by 2 ticks at 101 30/32. - Energy futures are trading mostly higher on the higher than expected draw in gasoline inventories in the U.S. last week (-3.041M v -50Ke). Supporting prices are continuing concerns of possible military action (despite denials by the U.S. and U.K. governments) against Iran because of its refusal to halt uranium enrichment activities, refinery problems at Imperial's Nanticoke and Valero's McKee refineries, continuing violence in Nigeria and a major late-winter storm over the country's midsection. Crude futures are up $0.70 or 1.00% at $61.60, reformulated gasoline futures are higher by 0.80 cents at 176.30 and heating oil futures are climbing 3.3 cents or 1.9% to 175.80. - The U.S. dollar is trading weaker across the board against major currencies amid lower Treasury yields and rising energy prices. A major U.K. bank, HBOS, put out a note today saying that higher oil is a negative for the dollar. The euro is up 35 pips against the dollar at $1.3161, sterling is higher against the dollar by 59 pips at $1.9623 and the dollar is down 52 pips against the Swiss franc at Chf1.2330.