A quiet session for Tsys with a........>

BOND SUMMARY: A quiet session for Tsys with a decline in the Nikkei 225 (owing

to ex-divs) & caution ahead of the week-long Oct 1 holidays in China combining

to limit price action. T-Notes last -0-02 at 130-07 with yields little changed

on the day. Eurodollar futures unch. to 1.5 ticks lower through the reds.

- A nothing session for Aussie Bond futures with YM & XM both unchanged vs.

settlement levels. A combination of next week's MonPol decision, regional

holidays in Victoria & the impending end of the FY may have kept traders

side-lined. Bills sit unchanged to 1 tick lower through the reds.

- JGB futures held to a tight range in Tokyo hours, last +4 ticks with the curve

flattening as super-long paper outperforms for a second session. There was a

poor 2-Year auction for Japan, drawing the lowest cover ratio since 2015 as the

outright yield richness on a historical basis seemingly outweighed the prospect

of further BoJ easing and any cheapening for foreign investors based on x-ccy

basis gyrations (with JPY x-ccy basis swaps snapping lower on the day to account

for calendar year end). Low price was just below that expected in the BBG poll.

Tokyo CPI data had had very little impact on the space.