Bonds have once again been on the......>

BOND SUMMARY: Bonds have once again been on the front foot today as the

coronavirus continues to spread amid news that China has banned travel out of

Wuhan, the source city of the virus. Treasuries have outperformed Bunds while

gilts have moved further from their highs as the market continues to reassess

the probability of action at next week's BoE meeting.

- The ECB is due to meet today but is not expected to announce any new policy

initiatives. However, the policy review is expected to be launched. Peripheral

spreads, particularly BTP spreads, have tightened today on little news.

- TY1 futures are up 0-7 today at 129-24+ with 10y UST yields down -3.1bp at

1.739% and 2y yields down -2.0bp at 1.509%.

- Bund futures are up 0.28 today at 172.61 with 10y Bund yields down -2.1bp at

-0.282% and Schatz yields down -0.3bp at -0.595%.

- Gilt futures are up 0.13 today at 133.63 with 10y yields down -1.1bp at 0.622%

and 2y yields down -0.8bp at 0.431%.