Little to report for the core global...>

BOND SUMMARY: Little to report for the core global FI space overnight. An uptick

in S&P futures & solid Chinese Caixin services PMI print allowed Tsys to move

back from best levels, with T-Notes sticking to a tight range, last +0-00+ at

132-04+. Yields are marginally mixed across the curve, promoting very modest

twist steepening. Eurodollar futures sit unch.-1.0 ticks higher thru the reds.

- AU bonds see YM -2.5 & XM +1.0, as the front end underperforms in the wake of

an in line with exp. AU GDP print, which dispelled some of the more pessimistic

views that were generated by the early partials, allowing the AUD to build on

yesterday's advance. Headline GDP was still lower than the RBA anticipated in

its most recent SoMP, with the Y/Y print registering the slowest growth rate

seen since the GFC.

- JGB futures +5 vs. settlement, easing back from overnight levels with the long

end underperforming in cash trade after yesterday's twist flattening, that was

likely driven by demand for longer dated cash bonds. N.B. today's

underperformance may have been driven by some concession ahead of tomorrow's

30-Year supply.