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US Treasuries are trading...........>

US TSYS SUMMARY
US TSYS SUMMARY: US Treasuries are trading modestly higher but off session
highs, supported by risk-off sentiment as a war of words breaks out between US
President Trump and the rest the G7 on global trade. US 10-yr Tsy yield is 0.7bp
lower at 2.913% having hit low of 2.889%. Curve is modestly bull steepening as
short-end outperforms the rest of the curve.
- Tsy dipped from US closing highs during first half of Asian session before
recovering lost ground on G7 meeting concerns on global trade.
- Tsy then got a large boost from strong opening in German Bunds as European
markets opened with a risk-off tone. Weak German and French industrial data also
underpinned the move higher.
- TYU8 hit intra-day high of 119-30+ on newswire headline that ESM is postponing
latest E1bln bailout for Greece, before fading lower to trade at 119-24
- Euro$ strip has ticked higher led by 3.5-4 tick move in Red contracts
- Thin on data and speakers Friday but market potentially eyeing up plenty of
event risk coming up: G7 meeting in Canada this weekend amid US trade tensions,
UK Brexit vote in parliament, Trump-Kim summit, ECB/Fed/BOJ decisions

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