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Thursday's Asia-Pac session was one of......>

US TSYS
US TSYS: Thursday's Asia-Pac session was one of consolidation for core global
FI, with participants still digesting the Sino-U.S. trade deal, which
underwhelmed upon its signing/release of details on Wednesday. T-Notes held a
tight 0-03 tick range, last -0-01 at 129-10, with the cash curve experiencing
some modest bear steepening.
- U.S. VP Pence suggested that discussions on the phase 2 deal have already
begun. This is interesting, given that China's state media suggested that China
will not immediately negotiate the phase 2 U.S-China trade deal. There was
nothing in the way of notable reaction to comments from Chinese VP Liu He, who
noted that China's 2019 GDP is estimated to grow by more than 6.0% & that early
data for January indicates a better-than-expected economic outlook going forward
N.B. this came ahead of China's Q419 GDP data, due for release on Friday.
- Eurodollar futures print unchanged to 0.5 tick lower through the reds. Worth
flagging a 20.0K block buyer of the EDH1 98.625/98.875/99.000 broken call tree
at 0.00 in Asia-Pac hours, building on similar flow in recent Asia-Pac sessions.
- Retail sales data headlines Thursday's local docket.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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