No surprise here, with T-Notes opening on...>

US TSYS: No surprise here, with T-Notes opening on the front foot, clearing

Friday's highs, last +0-11+ at 135-03+, 0-04 off the early highs. Implied

10-Year Tsy yields threatening a print below 1.00% per contact comments.

- Horrific Chinese PMI, the first onshore U.S. death stemming from Coronavirus,

triggering a state of emergency in Washington State, continued unease re:

pockets/testing of the virus in the States and broader focus on the potential

for rate cuts from the Fed remain front and centre. Markets also wary of the

situation in Syria, while Joe Biden recorded a blowout victory in the latest

stop of the Democratic Presidential candidate race in South Carolina.

- A reminder that Fed Chair Powell released the following statement on Friday:

"The fundamentals of the U.S. economy remain strong. However, the coronavirus

poses evolving risks to economic activity. The Federal Reserve is closely

monitoring developments and their implications for the economic outlook. We will

use our tools and act as appropriate to support the economy."

- General coronavirus headline flow, coupled with Chinese Caixin manufacturing

PMI data, will draw the most attention during Asia-Pac hours.