Growing fear over the Covid-19.........>

BOND SUMMARY: Growing fear over the Covid-19 epidemic has generated considerable

demand for safe haven assets at the start to the week. The number of cases

reported by South Korea & Italy spiked, while each of those countries confirmed

new fatalities, as did Iran. China's Hubei province warned that the incubation

period of the virus might be longer than previously thought, while participants

have quickly realised that Beijing's push for a prompt resumption of work

entails some risk to the effectiveness of virus containment. Uneasiness with

developments around the Covid-19 outbreak were reflected in off'l communique

from the summit of G20 FinMins. T-Notes trade +10+ at 131-06 & Eurodollar

futures sit 1.25-5.0 ticks higher through the reds. Cash Tsys don't trade as

Japanese markets are closed for a public holiday.

- Aussie bond futures have eased off highs; YM +1.5 & XM +2.5. Cash trade sees

yields trade 1.8-3.1bp lower across the curve, with some flattening impetus

evident. Bills last seen 1-2 ticks higher through the reds. There have been no

local data releases today, but the AOFM has tapped the mkt for A$400mn worth of

ACGB 4.50% 21 Apr 2033, offering the line for the first time since Feb 2018.