Core global bonds have edged higher....>

BOND SUMMARY: Core global bonds have edged higher in the main but sit back from

best levels after the initial bid tone stemming from the U.S.-China trade

situation waned.

- T-Notes last 124.04, while yields trade 2.3-3.5bp lower across the curve, with

the belly leading. U.S. 10-Year cash Tsy yields last 2.435%.

- JGB futures trade unchanged at writing. Yields are ever so slightly higher

across the curve. The BoJ left the size of its 1-5 Year Rinban operations

unchanged, offer to cover ratios as follows: 1-3 Year 3.65x (prev. 2.73x), 3-5

Year 4.57x (prev. 2.64x)

- The Aussie bond space has tracked broader risk-flows, YM last +1.5 ticks, with

XM also +1.0 ticks. YM/XM trades at 48.0 ticks, with the cash equivalent at

44.6bp. Bills trade 1-2 ticks higher through the reds. Local data and ACGB

supply had little impact on the space.

- German FI futures operate on low volume. Schatz unch., Bobls +1.0 tick, Bunds

+1 tick.