T-Notes ticked higher in early Asia trade...>

US TSYS: T-Notes ticked higher in early Asia trade on the back of the U.S. TR

proposing $2.4bn worth of levies on French products in the wake of the digital

tax that France is enforcing. The U.S. is also considering probing Turkey,

Austria & Italy on digital tax matters. Space was then subjected to some

pressure based on matters in Australia and Japan, with pockets of selling in

T-Notes seen through Asia hours. Contract last unchanged at 128-29, yields

1.1-1.9bp higher across the curve. Eurodollar futures print 0.5 to 1.5 ticks

lower, with steady selling seen in EDZ9 & EDM1 overnight.

- Worth flagging that the second round of term repo covering year end saw

oversubscriptions on Monday, which resulted in the NY Fed increasing the

Aggregate Operation Limit for the 28-day repo operation scheduled for 12/9/2019

from 'At least $15 billion' to 'At least $25 billion'.

- Tuesday sees the U.S. House vote on the Xinjiang bill, which may result in

punitive Chinese measures being deployed. Elsewhere, Global Times sources noted

that China will release an "unreliable entity list" soon.