Sino-U.S. tensions surrounding U.S.....>

BOND SUMMARY: Sino-U.S. tensions surrounding U.S. legislative matters re: Hong

Kong dented risk appetite during Asia hours, with a lower LPR fixing from the

PBoC doing little to offset the broader worry.

- The legislative matters provided support for Tsys from the off, with T-Notes a

little shy of highs at writing, last +0-09 at 129-23, while the 5-10 Year sector

outperformed in cash trade. Eurodollar futures sit 0.25-3.0 ticks higher through

the reds.

- Aussie paper also benefited, with YM +0.5 last and XM +4.5, promoting some

flattening of the curve, with YM/XM back to 37.0 after having a brief look above

45.0 last week. The latest round of ACGB 2030 supply was well received, while

local skilled job vacancies fell for a 10th consecutive month in Oct. Bills

print 1 tick lower to 2 ticks higher through the reds.

- JGBs also ticked higher, with futures +13 at writing. Japan's monthly export

data was on the softer side, with further support generated by a solid enough

20-Year JGB auction, which saw a marginal narrowing of the tail when compared to

the prior auction, cover ratio edge higher and the low price topped dealer exp.