T-Notes steady in early Asia trade, a.......>

US TSYS: T-Notes steady in early Asia trade, a touch above Friday's session

lows, +0-03+ at 129-31+, after the "partial" trade deal & Brexit optimism

weighed on the space on Friday. U.S. President Trump continues to spin the

"phase 1 trade deal" as a win, while Chinese media remains more balanced in its

assessment and pointed to the need for continued balanced decisions moving

forwards. The APEC summit (to be held in Chile on Nov 16-17) is the next

"deadline date" it would seem, with Messrs Mnuchin & Lighthizer set to travel to

China before then.

- A reminder that the Fed said Friday it will buy Tsy bills at an initial pace

of approximately $60 billion per month in order to maintain reserve balances at

or above the levels of early September 2019. Elsewhere, the Fed also noted that

it will continue its overnight funding operations through at least January.

- Also worth flagging that the Tsy revealed that it is surveying dealers re: a

potential 20-Year bond. 2s10s steepened Friday, while 5s30s flattened.

- A reminder that Cash Tsys will be closed Monday owing to a national holiday in

the U.S. Chinese trade data provides the focal point of Monday's Asia session.