Tsys were trading mixed into the.......>

US TSY/RECAP: Tsys were trading mixed into the bell on Wednesday, operating in a

tight range on light volume, with yields edging lower across the curve.

- Tsys edged away from lows in early U.S. hours after China tabled tit-for-tat

25% tariffs on $16bn worth of U.S. goods.

- Fed voter Barkin, who is one of the more hawkish Committee members, noted that

the Fed should follow through with normalising rates as unemployment is low and

inflation is virtually at target, although he did stress data dependence &

highlighted that the impact of trade tariffs still hasn't hit home with a lot of

people.

- The latest 10-Year auction came through on the screws, in what was a

relatively average auction. The cover ratio was slightly higher than the recent

average, with dealer takedown a smidge lower than the recent averages, albeit a

touch higher than the previous auction.

- Fed's Evans & U.S. PPI due later today.

- T-Notes last at 119.16+, U.S. 10-Year cash yields closed at 2.960%.