The underperformance of Chinese........>

BOND SUMMARY: The underperformance of Chinese equities provided some underlying

support, as did RTRS headlines noting that Iran's Foreign Ministry Spox Mousavi

tweets latest U.S. sanctions means "closing channel of diplomacy forever."

T-Notes last +0-03 at 128-01, with the Tsy curve sitting a touch flatter in cash

trade. Eurodollar futures trade unch.-2.0 ticks higher thru the reds.

- Little to report for the AU Bond space, with the latest round of I/L supply

ignored by the broader space. YM last +1.5 tick, with XM +2.5 ticks. YHM/XM

trades at 42.5 ticks, with the cash equivalent at 37.5bp. Bills trade unch. to

+1.0 tick thru the reds.

- The JGB curve runs flatter, with the cover ratio in the latest 20-Year auction

tumbling to the lowest level of '19 thus far after metric witnessed a record

high in last month's auction. The tail of the auction widened, but the low price

met exp. as proxied by the BBG dealer poll. There was little reaction to the

auction, with the curve flatter at writing and JGB futures 11 ticks higher on

the day.

- German FI futures a touch higher; Schatz +0.010, Bobls +0.010, Bunds +0.08.