Risk-off regains momentum, focus.......>

US TSY FLOWS: Risk-off regains momentum, focus back on corona virus spread after

FOMC held rates steady as exp'd, mildly tweaking language and hiked IOER and ON

RRP both by 5bps (to 1.60% and 1.50% respectively). 

- Late 30Y block buying pushes futures to new highs as equities continue to

trade lower (emini -10.0). 10YY fell to 1.5771L; 30YY fell to 2.0305%. 

- Risk-off gained momentum early -- partially tied to American Airlines

suspending some flights to China due to lack of demand, poor pending home sales

data not helping risk much either. Flow thinned out as participants plyed

sidelines to await Fed. Amid better buying in belly to long end, real$ accts

were sellers in 2s earlier. 

- Two-way trade post FOMC, rates powered higher just as Fed chair Powell

addressed corona virus effect global markets just as Air Canada suspends flights

to Beijing from Jan 30-Feb 29.

- The 2-Yr yield is down 4.8bps at 1.4148%, 5-Yr is down 7bps at 1.4091%, 10-Yr

is down 6.7bps at 1.5891%, and 30-Yr is down 6.7bps at 2.0452%.