T-Notes edged lower overnight, aided by a...>

US TSYS: T-Notes edged lower overnight, aided by a firmer CNY fix from the PBOC,

after moving higher on Monday as the contract broke resistance levels & 30-Year

yields moved back below 3.0%.

- Monday's bid was aided by chatter suggesting that U.S. Pres. Trump was unhappy

with Fed MonPol under Powell i.e. less easy money, which was later confirmed.

Trump noted that he disagrees with the Fed re: rate hikes & that he is "not

thrilled" with Chair Powell. When asked if he believes that the Fed should be

independent, he said he believes in "what's good for the country" adding "I

should be given some help by the Fed." Trump also noted that he will criticise

the Fed if it continues to raise rates.

- Trump also highlighted that he doesn't "anticipate much" from China trade

talks in Washington later this week, and believes that there is "no time frame"

for ending the trade dispute. Trump also had harsh words for Iran & Turkey.

- The Eurodollar strip is virtually unchanged last, after some late block buying

of front strips was observed on Monday.

- T-Notes last 120.17+, U.S. 10-Year cash Tsy yields last 2.833%.