The U.S. outlining tariffs to be.......>

BOND SUMMARY: The U.S. outlining tariffs to be implemented on Mexican goods in

the near future (with the ability to be quickly upscaled if Mexico doesn't alter

its actions re: the southern U.S. border) & BBG reports pointing to the Chinese

readying a plan re: rare earth exports to the U.S., if needed, had risk on the

defensive overnight, boosting bonds. TYU9 last trades +0-13 at 126-13+, with the

curve bull steepening. U.S. 10-Year cash Tsy yields last 2.177%, as yields

extend on their recent falls. Eurodollar futures +1.5-8.5 ticks at writing.

- JGB futures are +16 ticks, with the curve bull flattening, reverting to the

recent trend after the bear steepening observed yesterday. The BoJ left the size

of its 5-25+ Year Rinban operations unchanged, with focus now moving to the

BoJ's June Rinban plans, due after hours today (the recent run lower in yields

has some touting a reduction in purchases in the coming weeks).

- Aussie bond futures sit just shy of best levels, with YM +2.0 ticks and XM

+5.0 ticks. YM/XM has consolidated below 40.0 ticks. Bills trade unch.-2 ticks

higher through the reds.

- German FI higher; Schatz +1.5 tick, Bobls +10.0 ticks, Bunds +35 ticks.