Having exceeded the death toll from....>

BOND SUMMARY: Having exceeded the death toll from SARs, the Coronavirus outbreak

has surpassed another psychological level as over 1,000 people are now reported

to have died. 

- There are a slew of policymakers speaking today from the Fed, ECB and BoE. 

- Core sovereign bonds have broadly traded weaker this morning.

- UST cash yields are 1-2bp higher. Current yield levels: 2-year 1.409%, 5-year

1.408%, 10-year 1.585%, 30-year 2.047%.

- This morning's UK Q4 GDP print came in above expectations in Y/Y terms (and

flat in M/M terms), while industrial production missed in line with the recent

Euro area IP data for December. 

- Gilts have sold off with yields 2-3bp higher.

- The German bund curve has bear steepened with 2s10s and 2s30s 2bp wider.

- The sell-off in Italian BTPs has lagged bunds, with the curve trading close to

flat.