Tsys trading mixed, mid-to..........>

US TSYS SUMMARY: Tsys trading mixed, mid-to low-end overnight range, long end

underperforming, heavier volume (TYM>500k). Choppy trade, anxiety over potential

trade war w/China after US Pres Trump annc $60B in tariffs late Thu. Details

light: Trade Office to publish export list in 15 days, 60 days to "propose

actions beyond CFIUS" (Comm on For Inv in US) "to address concerns about unfair

acquisitions by China of inv in U.S.". Fed out of blackout: Bostic, Kaplan and

Kashkari speak today; Cong approves $1.3T spend bill.

- US$ index weaker (DXY -.195, 89.662; US$ vs. Yen slipped below 105.0 late Thu,

first time since late '16); equities resume sell-off (emini -7.0, 2636.25); gold

rebound (XAU +12.61, 1341.63); West Texas crude firmer (WTI +.28, 64.58).

- Asia, early safe haven bid tempered by mild China react to US tariffs ($3B on

US imports), risk-off support as equities continue rout, FX-tied buying. 

- London, prices scaled back, 5s/Ultra-30s steepener Block, prop selling 30s

- Swaps, spds running tighter, some action in short end w/4s5s6s fly, receiving

the belly.