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Light pressure o'night on a BBG story.......>

US TSYS
US TSYS: Light pressure o'night on a BBG story noting that China is said to be
preparing to buy more U.S. pork. This is a + at the margin, but not a "critical
issue" re: the underlying matters in the trade dispute (Chinese pork shortages
also noted). Furthermore, Xinhua sources had already stated that "China supports
relevant enterprises to continue to purchase a certain amount of U.S. farm
products, including soybeans & pork." Elsewhere, Chinese diplomat Wang presented
a consistent message re: trade in the wake of Trump's hawkish UN address.
- T-Notes -0-04+ at 130-18+, yields marginally mixed. Block flow saw a buyer of
the USX9 160/158 1x2 put spread, a seller of the TYZ9 130/131 call spread & a
buyer of the FVZ9 119.75/120.50 call spread (all directions intimated by
sources), with the TY & FV blocks potentially done as a package.
- Eurodollar futures are 1.5-3.0 ticks lower through the reds.
- The House Democrats' impeachment motion vs. Trump is in motion, with an
un-redacted transcript of Trump's conversation with his Ukrainian counterpart
set to be released later today. Elsewhere, Fedspeak is due from Brainard, Evans
& George. 5-Year supply is also slated in the wake of a solid 2-Year auction.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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