Core global FI was subjected to a......>

BOND SUMMARY: Core global FI was subjected to a very ltd start to the Asia-Pac

session. The space then saw a pickup in activity on the back of a SCMP source

piece which noted that "the U.S. and China have tentatively agreed to another

truce in their trade war in order to resume talks aimed at resolving the

dispute." As mentioned elsewhere, while the SCMP piece revealed little new (very

similar to a BBG sources piece earlier this week), the market reaction

reiterates the relatively pessimistic expectations heading into the G20 summit,

with bonds coming under pressure as result. A bounce back in Chinese industrial

profits will also have aided sentiment. T-Notes last -0-04 ticks at 127-15,

while the curve saw some light bear flattening. Eurodollar futures 1.0-2.5 ticks

lower thru the reds. The EDU9 97.875/97.750 put spread saw some light activity.

- AU bond futures followed offshore themes. YM last -5.0 ticks, XM -7.5 ticks,

YM/XM a touch steeper at 42.5 ticks. Bills trade 3-5 ticks lower thru the reds.

- The JGB curve sits a little steeper with 20+-Year paper underperforming,

although futures have struggled for fresh downside impetus.

- German FI also a touch lower; Schatz -1.5, Bobls -8.0, Bunds -27.