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The suspension of U.S. tariffs on......>

BOND SUMMARY: The suspension of U.S. tariffs on Mexico has been in the spotlight
from the off, supporting broader risk appetite. Late Friday U.S. Pres Trump
announced that the tariffs are "indefinitely suspended" in exchange for Mexico's
commitment to limit illegal migration through its territory into the U.S.
Nonetheless, questions re: the substance of the deal remain, as BBG sources in
Mexico noted that there was no side agreement re: Trump's later references to
agricultural sales across the southern border, while some U.S. press outlets
have suggested that the deal contains little in the way of fresh agreements.
- T-Notes have ticked away from early lows and last trade -0-09 at 126-30. Cash
Tsy yields seen 1.4bp to 4.4bp higher across the curve, with a degree of bear
flattening apparent. Eurodollar contracts are dealing 2.0 to 5.5 ticks lower
through the reds.
- JGB futures have added 16 ticks and last trade at 153.59. Yields are a touch
lower across the curve. Little in the way of reaction was noted to domestic data
releases, with focus turning to the BoJ 1-5 Year Rinban ops, due shortly.
- Australian markets are shut for a holiday today.

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