Steady After Wednesday's Sell-Off

T-Notes have held a very tight 0-02 range so far, stabilising after yesterday's slide driven by a recovery in broader risk appetite. Participants have awaited fresh catalysts, but early Tokyo dealing has offered little of note in the way of headline/data flow. E-minis hover just above opening levels, lacking any firm momentum. T-Notes last trade +0-01 at 139-10+.

• Cash Tsy yields trade marginally shy of neutral levels, last 0.2-0.5bp richer.
• Eurodollar futures last seen 0.5 tick either side of unchanged levels through the reds.
• The scaled-down fiscal bill proposed by Republican Senators will be put to the vote in the upper house of the Congress later today, but it will be largely symbolic. GOP leader are trying to secure support of as many of the 53 Republican Senators as possible, but the bill almost certainly won't get the 60 votes needed to pass the Senate. The vote will be more of a test of unity among GOP lawmakers than a viable legislative initiative on their part.
• In the latest round of news re: Sino-U.S. tensions: Washington reportedly revoked visas of 1,000 Chinese nationals over their links to the military.
• U.S. data highlights today include PPI, initial jobless claims and final wholesale inventories.