A generally limited start for the......>

BOND SUMMARY: A generally limited start for the major global fixed income

markets after Friday's heavy China data/U.S. bank earnings inspired sell-off.

- T-Notes hover just above settlement levels, last 123.04+, sticking to a tight

range and back from the early lows, with yields 0.4-1.1bp lower across the curve

at writing (with the belly leading). Eurodollar futures trade unchanged to 0.5

tick lower through the reds.

- Aussie Bond futures trade back from their SYCOM lows, potentially drawing

support from the fact that China has taken its complaints re: Australia's

treatment of Huawei to the WTO. YM last -4.5 ticks, with XM -6.0 ticks. YM/XM

trades at 49.5 ticks, with focus on 10-Year basket supply at the top of the

hour. Bills trade 1-5 ticks lower through the reds.

- JGBS have worked their way off Friday's overnight lows, but still trade 14

ticks below settlement at 152.70. Bear steepening is apparent in the cash space.

- Bund, Bobl and Schatz futures all trade unchanged to a handful of pips higher

than settlement.