The 10Y UST yield gave back some....>

US TSYS SUMMARY: The 10Y UST yield gave back some its gains from yesterday in

early Asia. However, as Europe opened and EGBs came under renewed pressure the

yield on the UST 10Y rose above yesterday's close. As expected the BoJ kept all

policy on hold, voting 8-1. The 10Y yield is currently hovering near the close

and is trading at 2.4899%.

- The US House of Representatives, controlled by the Republicans, approved the

biggest tax overhaul of the US tax code in 30 years. The House approved the bill

for the second time in two days after a procedural error forced another vote.

Trump is expected to sign the bill in early January.

- There were some interesting option and swap flows going through with an early

buyer of 12k TYG8 puts at 22. There were 2 swap flatteners of USD 72.6k and USD

53.2k DV01 in the 4Y-6Y and 10Y-30Y areas respectively. There also appeared to

be a small receiver in a 10Y-12Y-15Y fly.

- Across the Atlantic the first release of the day is US Q3 final GDP data at

1330GMT. Also at 1330GMT are US Weekly Jobless Claims data and US Philadelphia

Fed Manufacturing Index.