A bit of a limited Asia session for the.....>

US TSYS: A bit of a limited Asia session for the core global FI markets as

participants assessed a heavy weekend of news flow. T-Notes sit at best levels

into Europe (light volume <50K), having held a very tight range overnight, last

+0-07 at 139-03+, with yields 0.4-1.4bp richer across the cash curve, light bear

flattening seen, in the wake of the late steepening seen Friday after the Fed

trimmed the size of its daily Tsy purchases for the coming week. Cross currents

were evident, with a very slow re-opening of the U.S. economy set to get

underway on Monday and congress seemingly moving towards an agreement re:

business loan funding, although tensions between President Trump & state

governors, as well as a resumption in Sino-U.S. sabre rattling has been evident

over the last few days. On the broader COVID-19 front, several global hotspots,

including New York, appear to be moving through the worst of things. Further

afield, political worry in Hong Kong, oil market woes and a focus on earnings

season continue to grab attention.

- Chicago Fed national activity index & bill supply headline today, with an eye

on the corporate issuance pipeline, which is expected to remain free-flowing.