Another headline light Asia session,...>

BOND SUMMARY: Another headline light Asia session, with nothing to move the

needle in terms of broader risk sentiment.

- T-Notes stuck to a 0-03 tick range, last -0-01+ at 129-26. Yields unch.-0.6bp

richer across the curve. Eurodollar futures 0.5-1.0 tick lower through the reds.

Flow-wise, Eurodollar option block activity was seen, with a mix of directional

bias: +40.0K of the 0EZ9 98.500/98.375/98.250 put ladder, +30.0K of the 0EF0

98.500/98.375/98.250 put ladder, +40K of the 1x2 0EZ9 98.625/98.750 call spread.

- Aussie bond futures meandered in a tight range, YM +1.0, XM +1.0, leaving

YM/XM at 37.00. Bills sit 1 tick lower to 2 ticks higher through the reds. An

uncovered 3-month bill auction from the AOFM generated some interest, but

several experienced market hands played down its relevance and pointed to solid

demand in today's 6-month bill tender, as well as technical matters at play.

- JGB futures briefly ticked lower in the wake of the latest round of 20-Year

supply, which saw an uptick in the cover ratio, steady price tail & marginal

narrowing of the yield tail as the low-price matched exp. per the BBG dealer

poll. Little in the way of notable reaction in 20-Year yields post-supply.