Tsys have edged back from settlement........>

US TSYS: Tsys have edged back from settlement levels in Asia-Pacific trade, even

with regional cash equity benchmarks & U.S equity index futures trading lower.

- T-Notes have stuck to a tight range, with yields 1.0-1.4bp higher across the

curve at writing.

- It has been a relatively limited session in terms of headline news flow.

- Overnight Tsy flow has seen a focus on the downside via: TYK9

122.00/121.50/121.00 put ladder 10.0K blocked at 0-02, and a 750 lot UB clock

seller, which, when coupled with the failure of 10-Year Tsy yields to close

<2.6%, likely drove activity in the space.

- Eurodollar futures trade unchanged to 1.0 tick lower through the reds.

- T-Notes last 122.25+, U.S. 10-Year cash Tsy yields last at 2.612%.