A busy start of the week,...........>

US TSYS SUMMARY: A busy start of the week, following a busy Asian session. 

-10 yr Tnotes have traded in a 1 big figure range, where some selling into EGBs

and Treasuries was favoured it seems, given CBs stepping up their more

supportive 

-The early sell off. Was short lived, with the risk of Global rate easing and

potential Global Virus lock down. 

-Treasuries are sitting 24+ on the day, taking their cue from the German Bund.

-US interest Rates odds have gone from 1.5 cuts this year two weeks ago, and

everything changed on Friday with Fed Funds now pricing 38bps worth of cut for

the March meeting and OIS pricing 54bps of cut. A 50bps cut is pretty much fully

priced for the next meeting, but plenty of Fed speakers and Data for the week

ahead. 

- 2y yields down -18.9bp today at 0.726% 

- 5y yields down -12.4bp today at 0.812% 

- 10y yields down -9.1bp today at 1.059% 

- 30y yields down -5.0bp today at 1.626%