T-Notes continue to hold to a tight range...>

US TSYS: T-Notes continue to hold to a tight range in a subdued Asia-Pac

session, even with heightened geopolitical risks evident, namely a North Korean

missile launch, tensions surrounding Iran and the U.S. running a ship through

the Taiwan Strait.

- T-Notes last +0-00+ at 127-17 on subdued volume. Tsy yields trade mixed,

resulting in some marginal twist steepening in the cash space.

- Probably worth highlighting a BBG sources piece which suggested that Apple

suppliers see demand for new iPhones stabilising this year.

- Eurodollar futures are unchanged to 0.5 tick higher through the reds.

- Durable goods data, 7-Year supply (in the wake of weak 2- & 5-Year auctions) &

the ECB monetary policy decision will draw the interest of particpants today.