Core FI largely looked through the mixed....>

US TSYS: Core FI largely looked through the mixed bag of Chinese economic data,

which was headlined by the first GDP fall on record, with a broader focus on

some (perhaps misplaced/circumspect) hopes surrounding COVID 19 medical

developments (see earlier bullets for details) that hit in late NY trade.

- T-Notes edged away from worst levels, in the wake of the Chinese data, but

still trade through yesterday's lows, last -0-17+ at 138-22, with yields

2.3-4.0bp cheaper across the curve, after the long end unwound earlier

underperformance. Swaps generally a touch tighter across the curve.

- No real attention given to President Trump's daily COVID-19 briefing, as he

unveiled his re-opening plan (which was leaked in NY hours) and pointed to being

past the peak of new COVID-19 cases.

- T-Notes see ~153K lots change hands as of typing, a much more active Asia

session vs. what we have seen since Easter.

- Eurodollar futures print 1.0 to 5.0 ticks lower through the reds, bear

steepening.

- An address from Fed's Bullard headlines a light local docket on Friday.