Very quiet on the global core FI.......>

BOND SUMMARY: Very quiet on the global core FI front, with Tokyo closed until

Monday.

- T-Notes holding a 0-04 tick range thus far, last -0-02+ at 128-11.

Participants struggling for any impetus amid the holiday backdrop, with Middle

East tensions seemingly de-escalating from Tuesday/Wednesday peaks, while the

space has largely looked through the PBoC's RRR cut, which was widely touted.

Cash Tsys remain closed until European hours owing to the aforementioned

Japanese holiday. Eurodollar futures unchanged to +0.5 to -1.5 ticks through the

reds.

- Aussie bond futures have managed to move away from their lows, even with the

major regional Asia-Pac equity indices moving higher. YM -0.5, XM -1.0 at

writing. Little in the way of clear drivers for the (limited) uptick, with U.S.

T-Notes also ticking away from worst levels over the same horizon. Bills sit 1

tick lower to 1 tick higher through the reds.