T-Notes last trade +0-02 at 127-00+, with...>

US TSYS: T-Notes last trade +0-02 at 127-00+, with a strong bid in JGBs

supporting the broader core bond space overnight. Yields sit eased 0.9bp to

2.8bp lower across the curve, with the belly leading and the long-end lagging.

- A 2-/5-Year block flattener and TYN9 128.00 call seller provided the highlight

flow-wise in the Tsy space.

- Eurodollar futures are trading 0.5 tick lower to 2.0 ticks higher through the

reds. 40.0K of the 98.000/98.125 call spread were bought at 0.03 overnight,

split between on screen and via block.

- Focus turns to comments from Fed Vice Chair Clarida, as well as Fed's Bowman

and Bostic (Kaplan & Evans will speak on TV). The ADP employment print &

non-m'fing ISM provide the highlights on the data front.