Core FI have inched lower since the....>

BOND SUMMARY: Core FI have inched lower since the Asia open, while sticking to

familiar ranges thus far, as risk appetite remains solid in the wake of

yesterday's upbeat trade comments from U.S. President Trump.

- T-Notes last trade -0-02+ at 127-13+, with cash Tsy yield trading 0.5bp to

0.8bp higher across the curve. Eurodollar futures are 0.5 to 2.0 ticks lower

through the reds. Worth noting BBG sources said that the White House has

investigated the legality of removing Jerome Powel as Fed Chair.

- JGB futures last sit at 153.67, 14 ticks above settlement, ahead of the BoJ

10-25+ Rinban ops, due later today. Cash yields trade 1.1bp to 3.3bp lower

across the curve, with some bull flattening apparent. Japanese trade data

provoked little to no reaction.

- In Australia, YM trades 2.5 ticks higher, with XM also 2.5 ticks better off.

Aussie bond yields last seen 1.6bp to 2.5bp lower across the curve. Bills are

dealing unch. to 2 ticks higher through the reds. As a reminder, the AOFM will

offer A$2.0bn of the 1.50% 21 June 2031 Bond at an auction at the top of the

hour.