T-Notes trade 6 ticks below settlement......>

US TSYS: T-Notes trade 6 ticks below settlement last, with Asian participants

seemingly happy to sell futures and the shorter end of the Tsy curve again,

despite a heavy start for regional stock indices, tech sector worries and the

spectre of the trade war looming. This may suggest that regional players are

willing to fade the recent Fed re-pricing. Move extended as U.S. stock index

futures traded higher & regional equity benchmarks recovered from worst levels.

- Eurodollars trade 1.0 to 3.5 ticks lower through the whites and reds. ED flow

of note: EDU9Z9 paper paid 0.060 on ~2.2K. EDZ0M1Z1 fly paper paid -0.045 on

5.0K. Late Tues saw Block off-duration weighted fly, wings bought over 22,245

TUZ 105-16.2, 39,372 FVZ 112-28.5, 7,817 TYZ 126-06.

- Tues saw U.S. Pres. Trump state that he would like lower interest rates...

already known, while Fed dove Kashkari stuck to script, suggesting that the Fed

should pause to assess the impact of the hiking cycle.

- Durable goods data headlines Weds, as well as a 10-Year TIPS auction ahead of

the Thanksgiving holiday.

- T-Notes last 119.05, U.S. 10-Year cash Tsy yields last 3.068%.