After opening on the front foot as.....>

BOND SUMMARY: After opening on the front foot as coronavirus concerns persist,

bonds have come off of their highs despite some marginally disappointing German

data. Regional CPI prints are coming in either in line or a bit lower than the

consensus for the national print.

- The main focus today will be the BoE rate decision. There is very little in

the way of consensus other than that both Saunders and Haskel are expected to

continue to vote for a cut. Sell-side predictions range from an 8-1 vote for a

cut to a 7-2 vote for on hold. We think the decision will be very close but look

for a 6-3 on hold decision.

- There will also be focus on the WHO meeting at which it will be debated

whether the coronavirus is now a public health emergency.

- Additionally, the US releases its first print of Q4 GDP.

- TY1 futures are up 0-5+ today at 131-06 with Bund futures up 0.29 at 174.35

and Gilt futures up 0.30 at 135.19.