Little in the way of idiosyncratic..........>

US TSYS: Little in the way of idiosyncratic factors to drive Tsys overnight,

with weak Australian CPI data and faltering Chinese equities lending support to

the space.

- This comes after Tsy yields edged lower across the board on Tuesday, with some

marginal outperformance in the belly of the curve evident. 30-Year yields

continued to be capped by 3.00% on a closing basis. T-Notes finished just shy of

best levels on the day.

- White House economic advisor Kudlow spoke, but offered little new, touting

advances in U.S.-China trade talks, while pointing to the need for rate cuts

from the Fed.

- Eurodollar futures trade unchanged to 1.5 ticks higher through the reds. A

block trade saw 20K of the 0EK9 97.625/97.250 put spread blocked vs. 40.0K of

the 0EK9 97.750 calls. The call leg remained active during the session.

- 2-Year FRN & conventional 5-Year note supply is due today.

- T-Notes last 123.08+, U.S. 10-Year cash Tsy yields last 2.552%.