T-Notes last unch. at 131-04+, just above...>

US TSYS: T-Notes last unch. at 131-04+, just above the low of the intraday range

after pulling back from best levels ina fairly limited Asia-Pac session.

- Yields sit a touch higher across the curve, with the belly underperforming at

the margin.

- Some buying of the USV9 158.00 puts provided the highlight on the flow front

overnight.

- It is worth recapping that the Fed rejected the idea of involving political

considerations in its policymaking process, after ex-NY Fed Pres Dudley called

upon current central bankers not to give U.S. Pres Trump more leeway to escalate

his trade war by engaging in excessive monetary easing in an op-ed on Tuesday.

- Elsewhere, the minutes from the Fed's discount rate meeting minutes revealed

that half of the Federal Reserve's regional banks wanted to keep the discount

rate unch. in votes taken ~1 week before the FOMC's July MonPol decision, per

the minutes of the Fed's discount rate meeting.

- Fed's Barkin & Daly speak today, with 5-Year supply also due.