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

US TSYS: 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 and disdain re: the U.S. meddling in its internal

affairs. China's foreign ministry also summoned the U.S. ambassador (again) over

the matter.

- At the moment few see the move, in isolation, as a fatal blow to the phase 1

Sino-U.S trade talks. But it could always be used as a reason for China to walk

away from talks, in conjunction with other triggers. Remember, there are fresh

U.S. tariffs on China set to go into play on Dec 15. China will be keen to have

a deal in place ahead of then, Messrs Lighthizer & Navarro maybe not so much.

- T-Notes edged back from best levels, sticking to a tight range in holiday

thinned trade, last +0-01 at 129-16+. Cash Tsys are closed for Thanksgiving.

- Eurodollar futures 0.25 to 1.0 tick higher through the reds.