A much calmer session in Asia..........>

BOND SUMMARY: A much calmer session in Asia. Markets breathed a sigh of relief

as the latest daily new Coronavirus case count & death toll out of China

moderated from the levels seen Thurs, as some felt more assured in their

assessment that the Hubei methodology change resulted in a 1-off jump yesterday

(despite some accusations of underreporting from U.S. officials). T-Notes hugged

a 0-05 range, edging back from best levels as S&P e-minis made fresh record

highs. Contract last +0-01+ at 130-26, yields 0.6-1.2bp lower across the curve.

- Aussie bonds saw an early, light bid on the back of reports from The

Australian pointing to "a cruise ship in lock down in Sydney Harbour, with a

passenger being tested for possible coronavirus." The operator played down,

noting "there is absolutely no truth to this. The vessel remains in operation,

and all guests onboard are in good health." Major contracts range bound YM

unch., XM -1.0. Bills unch. to -1.0 tick thru reds. The AOFM's announcement of a

syndicated tap of ACGB 2.75% 21 May 2041 for next week did little for activity.

- JGB futs broke Thurs lows in PM trade, on a slight softening of cover in the

latest 5-15 Year liquidity enhancement auction, belly underperformed in wake.