T-Notes hold a tight range in early.........>

US TSYS: T-Notes hold a tight range in early Asia-Pac trade, after a modest

uptick away from the NY lows into Wednesday's closing bell. Contract last +0-01+

at 138-07+.

- Wednesday saw the focus on the gradual re-opening of economies across the

globe garner extra steam on the back of better than expected U.S. economic

data., allowing the space to look through the latest round of Sino-U.S.

tensions, as has been the case in recent sessions.

- Steady US$ issuance and talk of CTA related flow potentially added to the

pressure in the space on Wednesday, although the likes of Nomura suggested that

the CTA selling may not come into play until 10-Year yields shift a little

higher.

- Curves retraced from bear steepening extremes into the bell.

- 10-Year yields continue to hold to the range observed since early April, even

with 30s looking to stretch their legs.