Tsys have stuck to a tight range edging.....>

US TSYS: Tsys have stuck to a tight range edging back from Tuesday's closing

levels, and trade virtually in line with settlement after cautious Fed rhetoric

supported the space Tuesday.

- Yields trade a touch higher in the cash space.

- Headline flow has been light in Asia-Pacific hours, with a focus on the FOMC's

Jan meeting minutes, due later today, and the ministerial level trade talks

between the U.S. & China, set to get underway on Thursday, with lower level

talks currently focusing on the yuan, according to BBG reports.

- Notable flow focused on a familiar structure, with 10.0K of the TYJ9

121.50/123.50 strangle vs. TYK9 121.50 put package blocked, in a repeat of a

trade seen in Asia-Pacific hours last week.

- The white and red Eurodollar contracts trade 0.5 to 1.0 tick higher. Small

flattener plays were noted in EDM0Z0 overnight, with a seller of the EDUZ9H0 fly

also evident.

- T-Notes last 122.07+, U.S. 10-Year cash Tsy yields last 2.641%.