New week with worse risk-off tone,.....>

US TSY FLOWS: New week with worse risk-off tone, with S&P futures nearly tapping

13% downside circuit breaker in early trade. Knock-on effect to Covid-19 virus

spread projected to weigh heavily on world economies. 

- Group of Seven leaders said Monday they will do whatever is necessary to

stabilize the global economy in response to COVID-19, after earlier promises of

coordinated action were followed by national shutdowns and crashing financial

markets.

- Limited data, March Empire State: -21.5 lowest since 2009; Fed mute day after

unprecedented second intermeeting rate cut annc'd Sunday evening to 0.0-0.25%

range.

- US Chicago market makers adjusting to first day full electronic trade with CME

Group trading floor closed until further notice.

- The 2-Yr yield is down 13bps at 0.3599%, 5-Yr is down 22.6bps at 0.4905%,

10-Yr is down 24.2bps at 0.7182%, and 30-Yr is down 24.5bps at 1.2841%.