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Global bonds are largely steady........>

BOND SUMMARY: Global bonds are largely steady Tuesday, with event risk and
U.S.-China tensions in the spotlight.
- Most key bond futures have moved little. Mar19 T-Note futures up 0.5/32 at
121-165, trading in a 5-tick range overnight; JGB futures off 2 ticks at 152.62.
- Likewise, tight trading ranges for European bond futures. Mar19 Bunds up 3
ticks at 164.93 within a tight range; Gilts off 3 ticks at 123.08.
- Key theme in Europe is EGB supply, with Greece, Austria and Belgium all
syndicating new benchmarks Tuesday.
- Markets focused on the UK parliamentary vote on Brexit Withdrawal around
1900GMT, and the FOMC decision Wednesday.
- Additional attention paid to overnight WSJ report which noted ongoing issues
in U.S.-China trade talks and tensions re extradition of the Huawei CFO, which
initially led China tech stocks to fall sharply but then later recovered.
- U.S. consumer confidence the main item on the data docket today
(1500GMT/1000ET); after a prior reading in December of 128.1, the MNI median
calls for a drop to 124.6 in January.

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