A sedate Asia-Pac session for Tsys, with....>

US TSYS: A sedate Asia-Pac session for Tsys, with regional participants

assessing the risk-on, twist steepening dynamic of Monday's Wall St. session,

while getting to grips with the latest round of Sino-U.S. tension & passage of

the Hong Kong Security Law. Chinese off'l PMIs were a touch stronger than exp.,

although that provided nothing in the way of notable mkt reaction, remember, we

are working off very low bases for those diffusion indices. T-Notes -0-00+ at

139-10, with light twist steepening in cash trade. Flow-wise, the highlights

came early on, with the regional thematic of downside interest still observed

via 5.0K TYU0 138.50/137.00 put spread & ~8.0K TYQ0 136.50 puts, both lifted. 

- Elsewhere, the text from Fed Chair Powell's Tuesday address hit, as he noted

that "the econ bounceback is welcome," but it "presents new challenges-notably,

the need to keep the virus in check...A full recovery is unlikely until people

are confident that it is safe to re-engage in a broad range of activities."

- Eurodollar futures sit unchanged to +0.5 through the reds.

- Tuesday's Fedspeak comes from Powell, Brainard, Williams, Bostic & Kashkari,

with Chicago PMI and consumer confidence data also due.