The weekend saw China's trade..........>

BOND SUMMARY: The weekend saw China's trade surplus shrink amid a surprise mix

of a drop in exports & rise in imports. With the data pondered against the

backdrop of U.S.-China trade talks and the looming Dec 15 tariff deadline, some

attention has been given to an FT report re: China removing foreign tech from

state offices. Meanwhile, a positive lead from Wall St. (where sentiment was

boosted on Friday by a strong U.S. NFP report) buoyed regional equity

benchmarks. T-Notes were range-bound, last trade +0-01 at 128-29+. Tsy yields

little changed at typing. Eurodollars last seen unch. to +1.0 tick thru reds.

- JGB futs rebounded from lows after lunch and now trade at 152.27, -18 ticks

vs. settlement. Decent revisions to Japan's Q3 GDP, driven by unexp. solid

capex, may have helped the earlier sell-off. Cash yields sit higher, save for

the super-long end. 10-Year yield engaged with the zero level for the first time

since March. The BoJ left the sizes of its 10-25+ Year JGB purchases unchanged.

- Aussie YM -2.0 & XM -3.0; cash yields operate 1.5-2.5bp higher across a

steeper curve. Bills sit -2 to +2 ticks through the reds. The AOFM sold A$1.2bn

worth of the 1.50% 21 Jun 2031 ACGB at an auction today.