T-Notes went out near session lows.....>

US TSY/RECAP: T-Notes went out near session lows Wednesday, with the contract

trading around those levels in early Asia-Pacific dealing. Move lower aided by

bid in U.S. equities, although they closed shy of best levels.

- It was a relatively quiet day for the space with focus on UK & EU centric

matters, as well as the stories re: Chinese trade issues. WSJ reported that

"China will allow greater access to foreign companies by replacing its Made in

China 2025 policy, a move aimed at easing U.S. trade tensions."

- Latest 10-Year auction saw a 0.5bp tail, with the cover ratio softening,

falling shy of the recent averages. Dealer participation held steady as direct

participation increased to ~10%, while indirect participation eased.

- Eurodollar strip saw the white pack trading mixed while reds through golds

traded mildly lower on strong volume.

- T-Notes last 120.07, U.S. 10-Year cash Tsy yields closed at 2.910%.