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Core global FI saw some demand in Asia......>

US TSYS: Core global FI saw some demand in Asia hours as U.S. off'ls & source
reports drew questions/worry re: what will come after the impending Sino-U.S.
phase 1 trade deal, as well as a seemingly continued hard line stance from the
Trump administration vs. Huawei.
- T-Notes held a 0-04+ tick range, last +0-03 at 129-07+, with yields 0.5-0.9bp
lower across the curve as we head into European hours. Highlight on the Tsy flow
side saw a 10.0K block lift of the TYH0 130.50/131.00 call spread, paying 0-05,
which was covered in futures.
- Eurodollar futures sit 0.5-1.0 tick higher through the reds. There have been
2x 10.0K block sales of EDH0 at 98.260 overnight, as well as 25.0K block lift of
FFG0, paying 98.425.
- PPI, Beige Book & Empire m'fing survey due Weds, with Fedspeak from Harker,
Kaplan & Daly due. Also on the lookout for Wall St. earnings, with issuance set
to pick up after more banks declare quarterly results. Worth remembering that
the phase 1 Sino-U.S. trade deal is set to be signed around 11:30 Eastern time.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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