T-Notes ultimately operate around where.....>

US TSYS: T-Notes ultimately operate around where we left them at the end of

Asia-Pac trade on Wednesday, after some intraday chop in London & NY hours, last

-0-03 at 139-01.

- Wednesday's dynamics were largely influenced by the gyrations in equity

markets with broader focus on Sino-U.S. relations after Secretary of State

Pompeo noted that he "reported to Congress that Hong Kong is no longer

autonomous from China, given facts on the ground. The United States stands with

the people of Hong Kong." However, equities recovered, to power higher into the

close, with T-Notes off of highs come the bell as a result.

- The curve ended a touch flatter on Wednesday, with some light outperformance

for 10s.

- Varying Fed views on YCC did the rounds, via Fed's Williams, Kaplan and

Bullard.

- The latest 5-Year Tsy auction was on the softer side, generating a 1.3bp tail,

along with softer than avg. cover ratio and an uptick in dealer participation to

slightly above avg. levels.