T-Notes unch. at 129-15+ in early trade,....>

US TSYS: T-Notes unch. at 129-15+ in early trade, after going out lower Thurs,

as the belly underperformed, at the margin, in the cash space.

- The space was more reactive to +ve trade war headlines on Thurs, even with

some more cautious stories apparent. Economic data was largely looked through,

while Fedspeak failed to move the needle.

- Block sales of TYZ9 & WNZ9 helped the space lower on the flow side Thursday,

as fast money a/c's looked at flatteners and real money buying was seen across

the curve.

- A second consecutive sharp daily rally for oil futures likely aided the push

lower in Tsys.

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

- Global PMI data will be scrutinised on Friday.