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T-Notes +0-00+, at 129-03. Geopol...........>

US TSYS: T-Notes +0-00+, at 129-03. Geopol tensions surrounding the Middle East
were the dominant factor last week, with the weekend seeing Iran admit that it
accidentally shot down the Ukrainian passenger plane, as had been suggested by
the international community. That has added to domestic tension in the Gulf
state, while skirmishes seemingly continuing vs. U.S. troops in the region.
- Elsewhere, Friday saw the NFP headline miss exp., with wage data also softer
than exp., which helped put a bid into the space, despite some initial chop.
Meanwhile, Fed voting dove Kashkari noted that "U.S. monetary policy is in a
holding pattern for now, but the next move may well be to cut interest rates
given signs the economy may be weakening," in an interview with RTRS.
- A reminder that the Sino-U.S. phase 1 trade deal should be signed this week,
likely Wednesday. Tsy Sec Mnuchin noted that Chinese commitments re: the trade
deal haven't been altered in translation. Elsewhere, the WSJ reported that "the
U.S. & China have agreed to semi-annual talks to push for economic reform and
resolve disputes."
- Cash Tsys will be closed in Asia-Pac hours, owing to a Japanese holiday.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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