A bid crept into the Tsy space during.......>

US TSYS: A bid crept into the Tsy space during Asia-Pac hours, with the contract

last dealing just shy of best levels, up 0-07+ on the day at 127-22+, with

global equity metrics largely on the back foot in early trade this week owing to

the move in Fed pricing post-NFP & several other risk-off drivers, some of which

were at least partially foreseen. There is perhaps some spill over from the

Iranian situation, although the upscaling of the country's uranium enrichment

was largely exp. ahead of the weekend, Deutsche Bank's broader cut backs &

pullback from certain business areas being formalised over the weekend, Chinese

regulators suspending some traders at a couple of major banks on the back of

"abnormal" trades, Turkish President Erdogan removing the Governor of the

country's central bank & Morgan Stanley publishing a fairly negative note on

global equities all likely supported Tsys. Also worth highlighting that regional

participants may be fading Friday's sell-off in Tsys ahead of Fedspeak/U.S. CPI.

- Eurodollar futures trade 1.5-5.5 ticks higher thru the reds, with a couple of

pockets of buying noted throughout the session, driven by EDM0 & EDU0 activity.

- There are no notable U.S. events on the docket on Monday.