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T-Notes -0-02+ at 138-28, around Friday's...>

US TSYS
US TSYS: T-Notes -0-02+ at 138-28, around Friday's late session lows, despite
continued Sino-U.S. sabre rattling over the weekend. Elsewhere, members of the
U.S. COVID-19 task force are now in self isolation, including VP Pence
(according to BBG sources) and health professionals Fauci & Redfield
(confirmed), after one of Pence's aides was diagnosed with the virus. These
aren't really game changers in the broader scheme of things. Elsewhere, Fed's
Kashkari painted a bleak picture for the econ & suggested that Congress should
consider doing more. Further afield, the latest PBoC report has many looking for
deeper policy loosening as we move forward, which could be a little broader than
was probably envisaged, given the nuanced changes in some of the
rhetoric/omissions from the statement.
- Friday saw the NFP report reveal job losses > 20mn in April, although the
headline reading wasn't as weak as exp. Many (including the BLS, as it pointed
to categorisation issues) suggested the data masked a much bleaker picture.
- Tsy Curve bear steepened Friday, with an unusually busy IG slate helping the
move.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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