Yields marginally softer in early cash......>

US TSYS: Yields marginally softer in early cash trade, sitting 0.5-0.9bp lower

at writing, with T-Notes at the top of their tight range, last 0-06+ at 129-20+.

- Selling of the TYV9 129.00 puts has provided the highlight on the flow side

thus far.

- Trump's discussions of middle class tax cuts over the next year or so, the

potential for a meeting with North Korean leader Kim and a reaffirmation of his

preference for a "full" deal with China, but the opening of the potential for an

"interim" deal, or at least the consideration of one, have done little to move

the market.

- Also worth reiterating that Tsy Sec Mnuchin flagged to potential for 50-Year

bond issuance, if demand allows, a couple of times over the last 12 hours or so.

- Eurodollar futures 0.25-2.5 ticks higher through the reds.