Core FI picked up a bid early on as....>

BOND SUMMARY: Core FI picked up a bid early on as U.S. President Trump signed

the Hong Kong bill into law, potentially complicating trade talks with China and

provoking Beijing to reiterate threats of retaliation. Participants continue to

weigh how the Hong Kong situation might play out in U.S.-China relations.

T-Notes last trade +0-02 at 129-17+, with Eurodollars 0.25-1.5 ticks higher

through the reds. Cash Tsys are closed due to the Thanksgiving Day in the U.S.

- JGB futures operate at 153.40, -16 ticks vs. settlement having erased the

uptick from the open. Cash JGB yields are broadly higher across the curve. The

latest Japanese retail sales numbers missed expectations. On the issuance front,

the MoF will offer 2-Year JGBs at an auction later today.

- In Australia, YM +2.0 and XM +0.5. An improvement in NZ biz. conf. helped

futures off highs, but softer than expected Australian capex data pushed them

slightly higher again. Aussie yield curve runs steeper, with yields trading

0.3-2.0bp lower across the curve. Bills last seen 1-2 ticks higher through the

reds.