T-Notes last -0-08 at 130-01+, with light...>

US TSYS: T-Notes last -0-08 at 130-01+, with light bear steepening seen. Several

pockets of selling allowed T-Notes to breach Thursday's low in early Asia trade,

with consolidation below since. There was little in the way of outright +ve risk

headlines, so the move may have represented some regional follow through in the

wake of yesterday's Fedspeak. On that front, non-voter Kaplan made the rounds.

He told CNBC that he would "like to avoid having to take further action but I

think I'm going to have an open mind about taking action over the next number of

months if we need to."

- Long end put ladder blocks highlighted flow-wise; USV9 160/158/157 put ladder

5.0K blocked at 0-16, USV9 159/157/156 put ladder 5.0K blocked at 0-11, a market

source pointed to buyers of both. Elsewhere, small selling of puts was seen,

most notably in the TYU9 129.50 contract.

- Eurodollar futures deal 1.5-4.0 ticks lower through the reds.

- Fed Chair Powell's Jackson Hole speech headlines the docket, with Fed

interviews scattered through the day. Full schedule for the symposium below:

- https://www.kansascityfed.org/publications/research/escp/symposiums/escp-2019