Most global attention overnight.....>

US TSYS SUMMARY: Most global attention overnight has been on Bank of England`s

emergency 50bps rate cut; global curves have steepened but as ever, most

attention is on potential swings in risk appetite on Coronavirus.

- The 2-Yr yield is down 10bps at 0.4343%, 5-Yr is down 9bps at 0.577%, 10-Yr is

down 9.5bps at 0.7082%, and 30-Yr is down 9.3bps at 1.1867%.

- Jun 10-Yr futures (TY) up 9.5/32 at 137-29.5 (L: 137-07 / H: 138-19).

- Equities have faded gains from Tuesday`s late rally but remain above the lows

set earlier in the week; seemingly searching for direction early Wednesday.

- Biden`s strong performance in the Democratic Primaries overnight was expected,

little reaction, though Sanders` candidacy now seen as all but over.

- February CPI data out at 0830ET; some softening expected from Jan on both the

Y/Y and M/M measures in terms of headline (core seen steady at 2.3% Y/Y).

- Focus on $24bln 10-Yr sale at 1300ET as well.