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T-Notes unchanged at 129-11. The contract...>

US TSYS: T-Notes unchanged at 129-11. The contract edged higher on Wednesday,
with the curve bull flattening (aided by real money activity in the long end),
as participants viewed the Sino-U.S. phase 1 trade deal as focusing on the "easy
wins," with questions surrounding the longevity of the deal owing to seemingly
simple 'get out' clauses, as well as general questions surrounding the
enforcement mechanism.
- Elsewhere, comments from Fed's Kaplan drew attention, as he told BBG that the
Fed's low interest rates, perception that there is a high bar to future rate
increases and expansion of its balance sheet are helping to lift asset prices,
stressing that the Fed "ought to be sensitive to that."
- Soft PPI data was also noted in early NY trade.
- Retail sales data headlines Thursday's local docket.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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