A wild Asia session, with the BoJ...........>

US TSYS: A wild Asia session, with the BoJ pledging to supply ample liquidity,

horrific Chinese PMI data, an ever-deepening international coronavirus situation

& deterioration of matters in Syria supporting core global FI early on.

Prospects re: deeper global central bank easing seemingly became more heightened

by the minute in early Asia-Pac trade.Before most of the major equity indices

open overnight staged a recovery on the back of the BoJ's liquidity play.

- T-Notes +0-13 at 135-05, 0-19+ off highs, with the curve bull steepening as

Fed cut expectations ramp up. The pullback has been aided by the aforementioned

broader risk appetite, as well as a focus on fiscal answers to coronavirus (in

Germany... again). Elsewhere, U.S. coronavirus matters continue to draw

questions, with the potential for a fiscal response from the Trump admin, the

first virus case seemingly noted on Manhattan, the first onshore deaths from the

virus (in a care home) & growing numbers of human-to-human transactions. Flow

highlights included some covering of US & FV covered calls on block.

- Trump tried to talk up the stock market in a weekend press conference.

- M'fing ISM headlines the local docket today.