T-Notes ticked higher at the re-open...>

BOND SUMMARY: T-Notes ticked higher at the re-open after Trump signed the HK

Bill, noting that he "signed it out of respect for the HK people" & that he

hopes China & HK will settle their differences. The gains were very ltd, while

Beijing withheld details on any possible response to the move, but once again

reiterated its threat of retaliation. At the moment, few see the move, in

isolation, as a fatal blow to the phase 1 Sino-U.S. trade talks. Contract edged

back from best levels, sticking to a tight range in holiday thinned trade, last

+0-01 at 129-16+. Cash Tsys closed for Thanksgiving.

- Aussie bond futures turned bid on the HK Bill story, then eased before ticking

back towards highs on soft domestic Q3 CapEx data, before moderating once again;

even with several downgrades/downside warnings from across the analytical

community re: next week's Q3 GDP print. YM +2.5 at writing, XM +1.0.

- JGB futures saw a modest uptick at the Tokyo re-open on the HK Bill matters &

softer than exp. local retail sales data (subjected to effects of the sales tax

hike), before fading. Futures last -22, with the latest round of 2-Year supply a

little softer than the prev. offering & a lack of month end buying evident.