A positive session for the Nikkei 225.......>

US TSYS: A positive session for the Nikkei 225 added weight to the Tsy space,

with Japanese equities supported ahead of the Topix going ex-dividend tomorrow.

- Fed's Rosengren addressed balance sheet matters from Hong Kong, suggesting

that returning the Fed's BS to pre-crisis levels is "not desirable." Rosengren

also revealed that it may be important for the Fed to lower the duration of the

BS in a swifter manner. Rosengren believes that Q1 U.S. growth is likely to be

"pretty weak," but growth should recover during the remainder of '19. Rosengren

stressed that pausing is the right thing for the Fed to do at the moment.

- T-Notes operate just off of session lows at writing, with yields 2.4-3.2bp

higher across the curve. Over 14.0K of the TYM9 122.50 puts changed hands

overnight, mostly paid at 0-13.

- Eurodollar futures trade 1.0 to 4.0 ticks lower through the reds.

- Harker, Evans & Daly are set to add to the recent Fedspeak today. Building

permits and housing starts provide the highlights of the domestic econ docket,

while 2-Year supply heralds the first round of note issuance for the week.

- T-Notes last 124.08+, U.S. 10-Year cash Tsy yields last 2.428%.