Rates and Equities surged to new.......>

US TSY FLOWS: Rates and Equities surged to new session highs after eagerly

awaited Trump press conf delivered little bite: US terminating

relationship/funding with WHO, take action to stop entry of some foreign

nationals, take action on Chinese firms listed on US exchanges.

- Little in the way of month end flow after the bell, though equities continued

to inch higher (ESM0 +6.0 at 3044.0).

- Little to no react to Fed speakers ahead blackout period tonight through June

11. Fed Chair Powell: Fed "not close to any limits" to what it can do, still has

"authority to react"; evidence whether neg rates actually helps pretty ambiguous

as it interferes w/ credit allocation and crushes down on bank margins. Fed

Mester: "RECOVERY COULD BE SLOW, HARD TO IMAGINE IT AS V-SHAPED" Bbg"

- MNI Chicago Business Barometer Falls Further To 38-Year Low (32.3 MAY VS 35.4

APR); more than 40% of the respondents expect Covid-19 to have an impact on

business plans for more than 9 months.

- The 2-Yr yield is down 1.2bps at 0.1583%, 5-Yr is down 4bps at 0.2989%, 10-Yr

is down 4.4bps at 0.6461%, and 30-Yr is down 4.6bps at 1.4064%.