Core FI was left to drift in...........>

BOND SUMMARY: Core FI was left to drift in sympathy with broader risk-related

flows in the first session of the week, with little in the way of headline flow

apparent. Early caution was evident surrounding COVID-19 worry in the U.S., a

poor restart to President Trump's rally tour and spillover caution from Friday's

NY session. That was before e-minis regained some poise and ultimately edged

higher during Asia-Pac hours. T-Notes unchanged at 138-25, yields marginally

mixed across the curve.

- Afternoon trade saw JGB futures draw support from the softer offer/cover

ratios observed in the latest round of 1-10 Year BoJ Rinban operations, after

following broader flows during the morning session. Futures last +6, with light

underperformance in the super-long end in cash trade. Meanwhile, the swap curve

has twist flattened.

- Aussie bond futures have hovered around unchanged levels for most of Sydney

trade, with little in the way of fresh local news flow evident, outside of the

re-tightening of some COVID-19 limits in the state of Victoria. YM -0.5, XM

unch.