A quiet re-open for T-Notes last +0-01+.....>

US TSYS: A quiet re-open for T-Notes last +0-01+ ticks at 127-20+. Wednesday saw

T-Notes go out near lows as yields rebounded in the wake of Bullard's less

dovish comments made Tuesday. Erroneous headlines misinterpreting the tense of

comments from Tsy Mnuchin re: Chinese trade talk matters provided some fresh

weight in EU hours, before corrections were issued. The move fully had fully

retraced in early NY hours, while the latest round of durable goods data was

mixed, headline was soft, but core measures beat. A wide spanning interview with

U.S. President Trump touched on a variety of familiar themes, most notably Fed

policy, Chinese trade matters & Iran, before the President departed for the

upcoming G20 summit. T-Notes ran out of upward momentum not long after the data,

with a tailing 5-Year auction doing little to help bulls, although the breakdown

and cover measures were more constructive.

- Fed's Daly had little impact as she pointed to the need to assess incoming

data. Daly noted that it is possible that the Fed will have to do more to drive

inflation above target. She stressed that "this is a challenging time," and that

"risk management" is on her mind.