Insulated

The space was a little more insulated than most of the major global
markets during overnight trade, as has been the case in recent times,
with participants seemingly needing a "game changer" to force a move
out of the established range.

• T-Notes hovered around unchanged levels for the duration of the
  Asia-Pac session and last sit +0-01 at 139-19+, sticking to a 0-03 tick
  range. Yields sit unchanged to 0.6bp richer across the curve.
• The closure of the Chengdu and Houston consulates and
  surrounding war of words keep Sino-U.S. tensions at the fore, while
  fresh pockets of COVID-19 worry have emerged across the globe. A
  little closer to home, a wide chasm in GOP/Democratic fiscal plans
  remains evident.
• Asia-Pac flow saw 3.0K of the SOFR Q0 futures sold vs. Fed Funds.
• Durable goods data and fiscal dynamics headline locally on Monday.
  2-Year supply is also due.