Some light pressure to U.S. FI space...>

BOND SUMMARY: Some light pressure to U.S. FI space was noted early doors, likely

on the back of a Xinhua report stating that several Chinese firms want to buy

U.S. agricultural products & have applied for tariff exemptions. T-Notes trade

-0-02+ at 127-14+, having ebbed away from the early session low of 127-12. Price

action has been range-bound so far. Cash Tsy yield curve has twist flattened,

albeit marginally. Eurodollar contracts are 0.75-2.0 ticks lower thru the reds.

- JGB futures have advanced, likely lifted by a softer Nikkei 225; they last

trade at 153.61, 5 ticks above settlement. Cash JGB yields sit 0.5bp lower to

0.3bp higher across the curve. BoJ Rinban operations covering 1-10 Year JGBs

headline the domestic docket during Tokyo hours, while a speech from BoJ Gov

Kuroda is expected in the NY session. On the news front, the ruling coalition

secured victory in Japan's upper house election, but failed to form a

supermajority needed to change the constitution.

- Australian YM & XM last trade 0.5 tick higher, both range-bound so far. Aussie

bond yield curve runs flatter, with yields trading unch. to 1.7bp lower. Bills

last seen 1 tick lower to 2 ticks higher through the reds.