A fairly subdued start to the week,.....>

MARKET TALK: A fairly subdued start to the week, with T-Notes in a tight range

and e-minis edging higher, despite continued Sino-U.S. sabre rattling from

Messrs Trump, Navarro and Pompeo.

- We also saw a retort from the Editor in Chief of the Global Times, who tweeted

the following on Sunday: "The US is very powerful & unfriendly to China. That's

why I call on China to expand number of nuclear warheads & enhance nuclear

deterrence. China is a defensive country, but we need to possess enough

capability so that the US dare not proactively attack China under any

circumstances."

- The broader market could be discounting the former as political posturing

ahead of the U.S. election in November, while being hesitant to further re-price

unless there is any outright, concrete escalation, outside of words/threats.