It remains a lacklustre session for Tsys,...>

US TSYS: It remains a lacklustre session for Tsys, with T-Notes sticking to a 4+

tick range thus far. Yields are off of lows, trading marginally higher across

the curve, with modest bear flattening apparent. Traders seem a little cautious

after Thursday's news flow. USD/JPY edges lower, with the Nikkei 255 in marginal

negative territory, while U.S. equity index futures are also negative on the

day.

- Risk factors include U.S. Trade Rep Lighthizer playing down a risk positive

story relating to Chinese trade matters late Thursday, denying the story, while

U.S. admin official Wilbur Ross noted that he still expects 25% tariffs to go

into play on China in January. This comes after RTRS reports pointed to U.S.

officials not expecting much in the way of concrete decisions at the upcoming

meeting between U.S. President Trump & his Chinese counterpart Xi. Brexit

matters also remain key to the global risk backdrop. Elsewhere reports noted

that North Korea has conducted a new secret missile test.

- Fed's Evans is due to speak later today.

- T-Notes last 118.27, U.S. 10-Year cash Tsy yields last 3.112%.