Core FI space has picked up but........>

BOND SUMMARY: Core FI space has picked up but remained at depressed levels,

while generally speaking trading activity has been muted amid little new on the

wires. Focus remains on the familiar themes of the Trump/Zelensky call & the

impeachment saga, Fedspeak (due to resume later today) and global trade matters.

Fed's Kaplan noted that "the marginal return on lowering the fed funds here has

got diminishing returns," so MonPol needs some backup to stimulate growth.

- T-Notes last trade +0-04 at 130-02+. Cash Tsy yield curve runs flatter, with

yields sitting 1.4-2.8bp lower. Eurodollar contracts last seen -0.5 to +1.5

ticks through the reds.

- JGB futures trade 15 ticks shy of settlement, at 155.22. Cash yields trade

slightly higher across the curve. The BoJ will buy 5-10 Year JGBs during today's

round of its Rinban operations. BoJ Governor Kuroda speaks later in the day.

- Australian YM trades -1.0 tick, XM -3.0 ticks. Aussie bond yields sit

0.1-2.6bp higher, with some bear steepening creeping in. Bills are unchanged to

1 tick lower through the reds. Local jobs vacancies data draws investors'

attention today.