Tsys came under some modest pressure in.....>

US TSYS: Tsys came under some modest pressure in early Asia-Pacific trade, with

broader risk-on flows apparent. However, the scale of the move was limited, and

largely driven by a ~4.0K sell order in TYH9, with the benchmark contract and

cash yields sticking to tight ranges as U.S. equity index futures & regional

stock benchmarks moved higher. Yields are up 0.5-0.9bp at writing.

- Chinese policymaker comments re: familiar stimulus measures provided little in

the way of fresh insight, with the market focused on familiar themes i.e. the

ongoing U.S. gov't shutdown (with the Dems trying to pass a stopgap funding bill

and talk of cross party meetings) & Fedspeak ahead of the blackout period. There

is also growing speculation re: an impending summit between U.S. Pres. Trump &

North Korean leader Kim.

- Swap flow was anaemic.

- The Eurodollar strip trades unchanged to 1.0 tick lower across the whites and

reds.

- T-Notes last 121.28, U.S. 10-Year cash Tsy yields last 2.711%.