Tsys were supported in Asia hours, with a...>

US TSYS: Tsys were supported in Asia hours, with a continued focus on Sino-U.S.

trade matters/broader relations and the cautious lead from Wall St. the driving

forces overnight (some grim economic assessments in yesterday's Fedspeak and

noted investor Stanley Druckenmiller re-did the rounds).

- Elsewhere, Fed's Mester noted that she would be open to discussions re: YCC,

as it could strengthen forward guidance.

- Contract last +0-04 at 139-02+, with light twist flattening of the curve.

T-Notes moved away from session highs as e-minis recovered but have held a tight

range during Asia hours.

- A reminder that Tuesday's 10-Year auction stopped through WI by over 1.0bp,

with dealer takedown sliding as indirect participation picked up. The cover

ratio generated at auction was the highest seen for this tenor in ~2 years,

shaking off worries surrounding the increased size of supply ahead of next

week's 20-Year auction.

- Focus on Wednesday to fall on Fed Chair Powell's address & 30-Year supply.