US Tsys hovered around closing levels.......>

US TSYS: US Tsys hovered around closing levels after the curve finished flatter

on Thursday.

- The Fed Minutes showed that almost all participants wanted a rate increase in

June, but one participant would have preferred to wait to allow inflation exp.

to rise to levels consistent with the Fed's goal. Most participants noted

"uncertainty & risks associated with trade policy had intensified" & suggested

that could eventually negatively impact business sentiment & investment,

pointing out that contacts in some districts had already scaled back capital

spending plans due to these concerns.

- Fixed income assets continue to be underpinned by the global trade backdrop

after the U.S. Tsy confirmed that the prev. announced tariffs on China were

scheduled to go into effect at midnight ET, with U.S. President Trump noting

that he is eyeing up another $16bn in China tariffs in the coming weeks. Markets

now await China's response after the country's foreign minister hit out against

the tariffs. NFP headlines on Friday.

- T-Notes lost at 120.10+, U.S. 10-Year Tsy yields last at 2.835%.