T-Notes stuck to a 0-03 tick range..........>

US TSYS: T-Notes stuck to a 0-03 tick range overnight, last -0-01+ at 129-26,

with no notable catalysts observed. Yields unch.-0.7bp richer across the curve

in what was a very limited session. Tsys finished little changed Weds, T-Notes

going out near lows on restrained volumes, as cash cheapened at the margin, by

up to 1.0bp across the curve. The latest 5-Year auction was solid, stopping

through by 0.4bp, cover ratio edged higher & indirect participation picked up,

with dealer & direct participation softening. Flow-wise, Weds saw block sellers

of ultra bonds in the NY afternoon, as well as a late US/WN steepener block.

- Eurodollar futures 0.5-1.0 tick lower through the reds at writing. Eurodollar

option block activity was seen overnight, with a mix of directional bias: +40.0K

of the 0EZ9 98.500/98.375/98.250 put ladder, +30.0K of the 0EF0

98.500/98.375/98.250 put ladder, +40K of the 1x2 0EZ9 98.625/98.750 call spread.

- The NY Fed announced a beefing up of the sizes offered at its upcoming

overnight & term repo ops late Weds, details available in bullets elsewhere.

- Docket picks up Thurs, with durable goods, flash PMIs & 7-Year supply due.

Also eyes on U.S. VP Mike Pence's address re: China.