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The weekend attacks on major Saudi crude....>

US TSYS: The weekend attacks on major Saudi crude facilities supported core
global FI in Asia, even with Japanese mkts (and therefore cash Tsys) closed
overnight. There is a high degree of uncertainty surrounding the ability of
Saudi to quickly restart the production that was shuttered by the strikes.
Various source reports have suggested that 30-40% will be back online today,
although the facilities may not reach full production for weeks/months.
Elsewhere, U.S. Pres Trump tweeted "Saudi Arabia oil supply was attacked. There
is reason to believe that we know the culprit, are locked and loaded depending
on verification, but are waiting to hear from the Kingdom as to who they believe
was the cause of this attack, and under what terms we would proceed!" The U.S.
has focused on Iran in the wake of the attacks, despite the Yemeni Houthi rebels
claiming responsibility (which many have questioned). Soft Chinese economic data
also provided some support for the space.
- T-Notes +0-14 at 129-00+, just shy of best levels. Little to report in terms
of standout flow, even with T-Note volume running well above the recent avgs.
- Eurodollar futures sit 0.025-6.5 ticks higher through the reds.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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