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Early focus fell on the suspension.....>

BOND SUMMARY
BOND SUMMARY: Early focus fell on the suspension of U.S. tariffs on Mexico,
announced late Friday by U.S. President Trump. Risk appetite benefited, even as
questions re: the substance of the deal remain, as BBG sources in Mexico noted
that there was no side agreement re: Trump's later references to agricultural
sales across the southern border, while some U.S. press outlets have suggested
that the deal contains little in the way of fresh agreements.
- T-Notes ticked away from early lows and last trade -0-09+ at 126-29+. Cash Tsy
yields are 2.5bp to 4.1bp higher across the curve, with a degree of bear
flattening apparent. Eurodollar contracts are dealing 2.0 to 5.0 ticks lower
through the reds. A wider than exp. headline Chinese trade surplus briefly
pressured Tsys, but the impact was short lived.
- JGB futures advanced from the off and topped out at 153.61 before easing off,
last are seen at 153.58, 15 ticks above settlement. Yields are a touch lower
across the curve. Little reaction was noted to domestic data releases, while
today's BoJ 1-5 Rinban ops saw all purchase sizes unch. from the prev. ops.
- Australian markets are shut for a holiday today.

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