Price action across core FI space......>

BOND SUMMARY: Price action across core FI space has been fairly subdued so far.

Focus remains on familiar global trade and geopolitical matters, the latter

linked to the usual troublemakers, namely Iran and North Korea.

- T-Notes trade flat at 127.09, while cash yield curve has bull flattened at the

margin. Eurodollar contracts last seen 0.5-1.0 tick lower through the reds.

Advance GDP & core PCE for Q2 are today's highlights in the U.S.

- JGB futures trade 4 ticks below settlement at 153.70. JGB yields are

marginally higher across the curve, with 10-25+ Year Rinban operations coming up

later today. Reaction to the latest Tokyo CPI was muted, the core index held

steady at +0.8%, missing MNI projections by 0.1pp. Yomiuri reported that Japan

may decide on removing S. Korea from its trading partners white list next week.

- Turning to Australia, YM & XM sit 1.0 tick lower each. Aussie yields trade

0.2-1.4bp better off at typing. Bills last seen up to 1 tick lower through the

reds. Participants are on the lookout for the AOFM's weekly issuance schedule &

the pricing of semi issuance in the form of NSWTC's 2031 line.