Regional players were seemingly........>

BOND SUMMARY: Regional players were seemingly happy to buy into the latest

pickup in Tsy yields in Asia-Pac trade, with the recent 10-Year yield range

still intact after the space came off cheapest levels into the NY close on Weds.

T-Notes +0-05+ at 138-11+ in a session bereft of news, but still sees volumes

that top the recent averages at this time in the session (87K lots for the

contract thus far), with yields 0.6-1.1bp richer across the curve.

- Aussie bond futs also edged higher in Sydney, locals seemingly happy to take

advantage of 10-Year yield levels > 1.00% (several strategists have identified

this area as a line in the sand), which helped drag XM away from SYCOM lows. YM

had less conviction re: regaining broken support. YM -1.0, XM -4.0.

- JGB futs softened at the Tokyo re-open, building on overnight weakness,

although moved off lows as local equities pulled back from early highs, before

soft 30-Year supply added fresh pressure. Contract -23. 7s continue to

underperform in cash, with some weakness creeping into the long end since mid

morning. Elsewhere, the LCH/JSCC 20- & 30-Year swap spreads widened again,

pointing to continued paying from abroad in those tenors.