Looser Chinese trade restraints on U.S......>

US TSYS: Looser Chinese trade restraints on U.S. agricultural and poultry goods

(despite the continued background beating of the trade war drum from the U.S.

side over the weekend), coupled with the potential for fiscal loosening out of

China weighs on T-Notes in early dealing this week, with the contract -0-03 at

130-28+ as we type. Elsewhere, a downtick in new daily Coronavirus cases out of

China was evident over the weekend, further aiding the feel-good factor in early

trade this week, although the daily death toll remained above 100.

- Late Friday saw reports/official talk of potential fiscal loosening measures

out of the U.S., as election season heats up. That came after a soft control

retail sales print supported the space in U.S. trade (although many pointed to a

mild winter weighing on clothing, and no change in the healthy consumer view).

- Liquidity will be sapped on Monday, owing to a U.S. market holiday that will

leave cash Tsys closed until Tuesday's Asia-Pac session.