T-Notes trade at unchanged levels heading...>

US TSYS: T-Notes trade at unchanged levels heading into European hours, with

yields 0.3-1.5bp

lower across the curve. Focus in early Asia-Pac hours fell on an NYT interview

with Trump's pick to fill an empty Fed Governor slot, Stephen Moore. "Moore said

Tuesday that he regretted his remarks about Mr. Powell, but defended his view

that the Fed was wrong to raise interest rates in Sep & Dec. He said the Fed

should immediately reverse course &cut rates by 50bp."

- A ~3.5K sell order pushed T-Notes to fresh session lows overnight, before the

spill over from a dovish RBNZ MonPol decision & soft Chinese industrial profits

data provided support, allowing the contract to move to intraday highs.

- Late Tuesday, Fed's Daly noted that inflation exp. drifting lower bear close

watching as she stressed the need for patience at the Fed.

- Yesterday's 2-Year supply was well received, with conventional 5-Year & 2-Year

FRN auctions due later today.

- Eurodollar futures trade 0.5 higher to 1.0 tick lower through the reds.

- T-Notes last 124.13, U.S. 10-Year cash Tsy yields last at 2.414%.