Continued surge in Covid-19 cases......>

BOND SUMMARY: Continued surge in Covid-19 cases confirmed in South Korea & a

puzzling rise in the number of new patients in China outside of the Hubei

province have been in focus, keeping risk at bay. T-Notes trade +0-03 at 131-17.

Cash yields sit 0.4-1.2bp lower through the reds. Eurodollars last seen unch. to

+1.5 tick through the reds.

- JGB futures sit at 152.75, 11 pips above settlement. Yields trade lower, curve

runs flatter. Japan published in-line CPI readings for January and flash Jibun

Bank PMI readings, with services & composite metrics slipping into contraction.

The BoJ left purchase sizes unchanged during today's round of 1-10 Year Rinban

ops. Elsewhere, BoJ Gov Kuroda pointed at the corinavirus as the biggest threat

to the economy, noting that the Bank stands ready to act if required.

- In Oz, YM +2.5 & XM +4.0. Cash yields trade 2.9-4.2bp lower across the curve.

Bills last seen 1-4 ticks higher through the reds. Flash CBA PMIs saw services &

composite indices join the m'fing gauge in contractionary territory. The AOFM

released its weekly issuance schedule covered in an earlier bullet.