T-Notes tick higher at the re-open after....>

US TSYS: T-Notes tick higher at the re-open after U.S. President Trump has

signed the Hong Kong bill, and went on to note that he "signed it out of respect

for the Hong Kong people" and that he hopes China & Hong Kong will settle their

differences. Contract +0-02 at 129-17+.

- Roll volume continued to account for the bulk of activity on Wednesday, ahead

of the Thanksgiving holiday (See earlier bullets for exchange opening

times/holidays), with T-Notes finishing lower on the back of largely better than

anticipated U.S. data (discounting PCE income & deflator metrics), that had been

shoehorned in, and fresh record highs for U.S. equities. Bear flattening was in

effect on the curve. On the flow side there was a 3.0K block seller of WNH0 on

Wednesday.

- Fed's Kaplan noted that he is "open minded about looking at, regarding

inflation, an averaging period that's longer than 12 months."

- Thursday's cash market closure and thinner desks, on the back of the

aforementioned holiday, will limit price action, in what will be a shortened

session for Tsy futures.