Little of note on the wires so far,....>

BOND SUMMARY: Little of note on the wires so far, with the focus remaining on

U.S.-China trade developments. Participants show some caution following reports

that Beijing has demanded the removal of some U.S. tariffs before phase-one

negotiations can go ahead. T-Notes +0-05+ at 129-03, with cash Tsy yields last

seen 1.4-2.2bp lower across the curve. Eurodollars 1.5-3.0 ticks higher through

the reds. Little to move the needle in earlier comments from Fed's Kashkari.

- JGB futures sit at 153.39, 50 ticks shy of settlement after a break of the key

support at 153.62. Little reaction to the minutes from the BoJ's Sep MonPol

meeting and final Jibun Bank services & comp PMIs, both of which were softer

than flash est. Cash JGB yields broadly higher across the curve, with concession

in the belly of the curve building ahead of today's 10-Year JGB supply.

- Australian YM last trades -1.5, with XM -4.5. Aussie bond yields trade

0.7-4.2bp higher across the curve, which runs steeper after playing catch-up to

overnight moves in U.S. Tsys. Bills last trade unch. to -1 tick through the

reds. The AOFM auctioned A$800mn worth of 2.50% 21 May 2030 ACGB earlier today.

Some attention has been drawn by a downbeat NZ jobs report for Q3.