Tsys held to a tight range in Asia. There...>

US TSYS: Tsys held to a tight range in Asia. There was little to go off in terms

of broader risk matters. Tsy Sec Mnuchin (somewhat cryptically) pointed to

Sino-U.S. trade meetings taking place in the w/c Oct 7 N.B. prior source reports

penned Oct 10-11 as potential dates for ministerial level talks.

- T-Notes unch. at 130-02+, yields 1.2-2.1bp lower across the curve & some

marginal bull flattening in play. The only activity of note saw T-Notes tick to

session lows as U.S. equity index futures had a look above their Monday highs,

before the move faded. An address from top level Chinese policymakers offered

little in the way of substantive new material & had no impact on the space.

- Eurodlr futs unch. thru the reds. 14-day (term) repo ops get underway today.

- 2-Year supply will draw scrutiny, with added focus on the auction in the wake

of the recent repo gyrations. Also worth keeping an eye on the UNGA, with a

particular focus on President Trump's address. The opening day of the UNGA drew

soundbites from the western powers & Iran, with the most notable development

perhaps being the decision of the UK, Germany & France to lay the blame of the

recent attacks on Saudi crude facilities at the door of the Iranian regime.