T-Notes edging lower after a very quiet.....>

US TSYS: T-Notes edging lower after a very quiet Monday for the space ahead of

the major risk events later this week. T-Notes last -0-03+ at 127-11, after cash

10-Year yields closed at 2.065%.

- The latest U.S. Treasury estimate suggested that it will borrow $433 billion

of net marketable debt in the third quarter of 2019, assuming a $350 billion

cash balance on September 30. Previously, the Treasury estimated it would borrow

$160 billion in the quarter, with a $85 billion cash balance at the end of

September. The larger borrowing estimate was due to "changed in cash balance

assumptions," the Treasury said.

- Boeing jumbo issuance provided the highlight of the corporate supply reel on

Monday.

- Late Monday screen trade saw paper pay 0-02 on 25.0K in the USU9 143.00 puts.

That came after a TY/WN steepener was blocked earlier in the session.

- Focus Tuesday turns to the latest PCE reading and resumption of U.S.-China

trade talks in Shanghai.