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Ltd trade for Tsys with T-Notes........>

BOND SUMMARY: Ltd trade for Tsys with T-Notes +0-01 at 129-15, yields 0.2-1.6bp
higher across the curve. Selling of the TYV9 129.00 puts provided the highlight
on the flow side. Trump's discussions of middle class tax cuts over the next
year or so, the potential for a meeting with N Korean leader Kim & a
reaffirmation of his preference for a "full" deal with China, but the opening of
the potential for an "interim" deal, or at least the consideration of one, did
little for market.
- Aussie bond futs listless, YMZ9 -2.5, XMZ9 -1.75.
- JGBs provided some interest on a technically driven move below weekly lows &
the 50-DMA, last -52 ticks. Curve steepening continues with 10-Year yields now
back to -0.16%. Little to note in terms of headlines, FinMin Aso noted that the
country's econ fundamentals remain solid, while the new EcoMin Nishimura stated
that the gov'ts hope "on the BoJ isn't about additional monetary easing" per
RTRS, reiterating it is down to the BoJ to set MonPol. Continued interest in the
BoJ sources piece suggesting that "BoJ off'ls see a need to keep a lower limit
on JGB yields, with some of them seeing that limit around -0.3%."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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