Fairly quiet so far, which leaves......>

BOND SUMMARY: Fairly quiet so far, which leaves the focus on renewed uncertainty

around U.S.-China trade relations, Moody's change to the UK's outlook and

China's inflation data from over the weekend, with CPI beating forecasts & PPI

providing a miss. T-Notes have inched higher & trade flat at 128-12+, while

Eurodollars sit -0.5 to +0.5 tick through the reds. Cash Tsys are closed as the

U.S. celebrates the Veterans Day, but equities will trade as normal.

- JGB futures have advanced and trade at 153.04, +13 ticks vs. settlement. Cash

JGB yield curve runs slightly steeper. The BoJ left the sizes of its 1-10 Year

Rinban operations unchanged today. Looking into the numbers, core machine orders

were weaker than expected; BoP c/a balance also fell short of exp. Little of

note in the Summary of Opinions from the BoJ's Oct MonPol meeting. Coming up

later today is the Eco Watchers survey.

- Aussie YM +1.5 & XM unch. Cash yield curve is generally steeper, with yields

mostly lower save for the 10-year yield which sits +0.1bp. Bills unch. to +2

ticks thru reds. The AOFM auctioned A$500mn worth of the 2.75% 21 Nov '29 ACGB,

drawing a decent bid/cover ratio of 4.17x.