Concern over the timetable for.........>

BOND SUMMARY: Concern over the timetable for finalising the initial U.S.-China

trade pact combined with a dose of pre-FOMC caution provided a modicum of

support to core FI. Elsewhere, news wires were fairly quiet overnight with

participants assessing the latest risk developments and looking towards a heavy

global docket ahead.

- T-Notes trade +0-01 at 129-09+. Cash Tsy yields seen 0.4-1.3bp lower across

the flatter curve. Eurodollars sit 0.75-1.5 tick higher through the reds.

- JGB futures shed their earlier strength, last sit 9 ticks above settlement at

153.76. The yield curve bull flattened. Local retail sales data topped

estimates, which was shrugged by the space. The BoJ wrapped up its Rinban

operations for this month by keeping 10-25+ Year purchase sizes unch.

- Australian focus was on the local Q3 CPI data & a broadly in-line release

prompted investors to slightly trim their RBA easing bets. However, although

headline Y/Y figure accelerated, the weighted-median metrics provided slight

misses. YM +2.0 & XM +4.5, while cash yields sit 1.8-4.5bp lower with some bull

flattening evident. Bills trade -2 to +3 ticks through the reds.