Jumps in Covid-19 case counts in.......>

BOND SUMMARY: Jumps in Covid-19 case counts in some U.S. states, Beijing & Tokyo

revived concerns over a second wave of infections, supporting core FI. T-Notes

trade +0-08 at 138-31+, just shy of session highs. Yield curve has undergone

bull flattening in cash trade. Eurodollars sit 0.25-1.0 tick higher thru reds.

- JGB futures have inched higher, but hold a relatively tight range, last

sitting +6 ticks vs. settlement, at 152.13. Cash JGB yields trade lower across

the curve, with the 5-10 Year sector underperforming ahead of today's liquidity

enhancement auction for off the run JGBs with 5-15.5 years until maturity.

6-Month Bill supply is also due.

- In Australia, YM -0.5 & XM +3.5 as we type, while cash trade sees yield curve

bull flatten, as risk-off dynamics described above play out. Bills sit -1 to +1

tick through the reds. Concerns over Sino-Australian tensions remain apparent,

although Trade Min Birmingham noted that the death sentence given to an

Australian man by a Chinese court shouldn't be seen as retaliation in a

bilateral spat. Elsewhere, China's Global Times warned that Beijing could

potentially target Australian iron ore exports.