Headline and data flow has been........>

BOND SUMMARY: Headline and data flow has been relatively light so far, but

broader sentiment has improved somewhat nonetheless. T-Notes have ebbed lower as

e-minis turned green and the contract last trades -0-04 at 138-20. Bear

steepening seen in cash trade, with yields sitting 0.1 to 2.7bp higher across

the curve. Eurodollar futures trade unch. to -1.0 tick through the reds.

- JGB futures have slipped and last sit at 152.10, 7 ticks below settlement.

Yield curve has undergone some twist steepening. Japanese PPI services PPI

matched expectations, while the summary of opinions from the most recent BoJ

meeting revealed little of note.

- In Australia, YM -1.0 & XM -2.5 as we type, with bear steepening seen in cash

trade. Bills trade unch. to -1 tick through the reds. The AOFM auctioned A$2.0bn

worth of ACGB 3.25% 21 Apr 2029. The coronavirus situation in Victoria continues

to draw attention, even as local case count is still shallow by international

standards.