Bonds have been under light pressure...>

BOND SUMMARY: Bonds have been under light pressure after BBG carried headlines

from U.S. President Trump noting that we will know in 3-4 weeks if China talks

will be successful, and that he feels China talks will be successful (he has

said this before)l. Headline flow has been limited elsewhere, with markets in

wait and see mode ahead of the Chinese equity re-open/CNY fix from the PBoC.

- T-Notes last 124.12+, operating at the bottom of their early Asia range, with

the U.S. 10-Year cash Tsy yield at 2.407%. Yields a touch higher across the

curve. Eurodollar futures trade 0.5-1.5 ticks higher through the reds.

- Aussie bond futures trade a touch higher but back from best levels. Little

reaction observed to the latest round of ACGB I/L supply. It would seem that

RTRS have breached the NAB business survey embargo. They have the confidence

metric at 0 and conditions index at 3. YM trades 3.0 ticks higher on the day,

with XM +3.5 ticks. Bills trade 1-2 ticks higher through the reds.

- JGB futures trickle back from highs, futures last +3 ticks as the cash curve

runs a touch steeper and the super-long end underperforms ahead 30-Year supply.

- German FI a touch softer. Schatz -2.0 ticks, Bobls -4.0 ticks, Bunds -6 ticks.