Price action across the FI space has...>

BOND SUMMARY: Price action across the FI space has been contained thus far, in

the absence of major headlines and data releases.

- U.S. T-Notes last trade -0.05+ at 122.22, after round tripping from session

highs at 122.24+. U.S. 10-Year cash Tsy yield sits at 2.627%, with cash yields

unch. to 0.5bp higher across the curve. Eurodollar contracts trade 0.25 to 2.0

ticks lower through the reds.

- JGB futures last seen -0.01 at 152.84, away from worst levels, as the Nikkei

225 eased back from highs, albeit remaining in the green. Cash yields are 0.9bp

lower to 0.4bp higher across the curve . This occurs ahead of a liquidity

enhancement auction for off the run 5-15.5 Year JGBs.

- Aussie bond yields are unch. to 1.7bp lower, with a modest degree of bull

steepening apparent. YM last trades +0.01 at 98.46 with XM +0.0025 at 98.0375,

while YM/XM trades marginally higher at 42.25. Bills trade 2-3 ticks higher

through the reds.