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Tight re-open for T-Notes, +0-00+ at........>

US TSYS
US TSYS: Tight re-open for T-Notes, +0-00+ at 129-31 after the space sold off on
Weds, with the curve generally steeper & 10-Year paper underperforming.
- The Trump-Ukraine phone call notes were released. The Dems took a damning
stance while Trump & some snr Reps tried to water it down. It seems safe to
assume that the Rep controlled Senate won't pass an impeachment motion by the
required margins, even if the House moves to do so. Elsewhere, Trump pointed to
the potential for a China trade deal happening "sooner than you think." Fed dove
& '19 voter Evans caught most off-guard, as he noted that he backed the Fed`s
cuts, but it 'seems like mid-cycle adjustment.' His baseline seemed fairly
constructive & he may only support much in the way of further easing if downside
risks materialise. Also worth flagging a BBG sources piece that was released
suggesting that the EU is eying $4bn tariffs on U.S. exports.
- The latest 5-Year auction was soft.
- On the plumbing front the NY Fed upsized the upcoming o'night repo ops to
$100bn (prev. $75bn) & 14-day ops to $60bn (prev. $30bn).
- Fed's Clarida, Bullard, Barkin, Kaplan & Kashkari all due in the next 24 hrs.
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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