Shy Of Post-Fed Highs

T-Notes holding shy of Wednesday's session peak, with the contract last +0-01 at 139-25, holding to a 0-01 range in early Asia dealing.

• A reminder that Wednesday's FOMC decision was light on details,
  with the softening of the economic rebound noted, $-swap lines
  extended through March '21 and little in the way of formal
  commitments re: the future evolution of monetary policy evident.
• Wednesday saw T-Notes finish shy of best levels as the cash curve
  twist steepened on the day, pivoting around the belly. 5s touched
  fresh record lows in yield terms, trading through 0.25%, before
  closing back above that particular level.
• Regional reaction to the Fed's rhetoric could set the tone in Asia-Pac
  hours, but given the lack of surprises dealt, we could be in for a
  limited round of overnight trade. The fiscal impasse on the Hill
  continues to draw attention.