T-Notes unch. at 129-22, back from Friday...>

US TSYS: T-Notes unch. at 129-22, back from Friday highs. An unexp. cancellation

of the touted Chinese o'ffl trip to the U.S. farmlands triggered risk-off flows

late Friday, although NYT sources have subsequently played this down, suggesting

that the Chinese side wanted avoid a "media circus." This came after Trump noted

that he wouldn't be interested in a "partial" trade deal & that he doesn't need

a deal before the '20 election. The off'l Chinese & U.S. s'ments pointed to the

constructive nature of the jnr ministerial level talks. Elsewhere, there was

news that the U.S. will temporarily exempt > 400 types of Chinese products from

tariffs, while U.S. regulators approved 10/15 requests for tariff exemptions

filed by Apple, all of these factors have provided some pressure in early trade.

- Geopols likely providing some offset after the Pentagon announced that it will

deploy troops to the M. East, at the request of Saudi. Elsewhere, the WSJ noted

that "Houthi militants have warned that Iran is preparing a follow-up strike."

- Friday also saw the New York Fed announce $75bn daily repo ops through Oct 10

& 3 14-day term ops' of at least $30bn over that time, as well as a bit of a

none the wiser interview with Williams in the FT re: recent repo goings on.