Bonds have continued their march.......>

BOND SUMMARY: Bonds have continued their march higher following yesterday's

dovish FOMC meeting and continued concerns about growing Covid-19 cases in the

US. Equities remain on the backfoot too as risk appetite remains weak.

- 2s10s curves have been bull flattening as the lower for longer message

continues. However, there has been little movement today in 10s30s curves.

- Fed Chair Powell downplayed the recent rebound in payrolls, but there will

continue to be focus on the weekly claims numbers due for release today,

particularly continuing claims.

- TY1 futures are up 0-11+ today at 138-27 with 10y UST yields down -3.5bp at

0.693% and 2y yields up 0.2bp at 0.172%.

- Bund futures are up 0.84 today at 174.65 with 10y Bund yields down -5.7bp at

-0.390% and Schatz yields down -2.6bp at -0.649%.

- Gilt futures are up 0.57 today at 136.95 with 10y yields down -4.7bp at 0.219%

and 2y yields down -0.2bp at -0.51%.