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JGBS AUCTION

PREVIEW: 2-Year JGB Supply Due

JGBS

Curve Twist Steepens, Futures Narrow

US EURODLR FUTURES

EDU2/Z2/H3 Fly Given

US TSY OPTIONS

TYF2 132.00 Calls Still Being Lifted

US TSYS
US TSYS: T-Notes edge away from yesterday's lows, last 0-07+ at 131-02+ after a
choppy Thursday session, with the contract ultimately going out just off worst
levels, after being bid for most of the day. Curve a touch steeper come the
close, with 30s underperforming at the bell. Risk-off support waned on the heels
of the WHO declaring Coronavirus an international health emergency, as it pushed
back against travel bans to China & stressed its confidence in China dealing
with the virus. We also saw U.S. President Trump tweet "Working closely with
China and others on Coronavirus outbreak. Only 5 people in U.S., all in good
recovery." Equities rallied in late NY trade & also worth flagging exceptional
beats for Amazon in the tech giant's latest quarterly earnings report.
- The 2.00% level limited the decline in 30-Year yields earlier in the day.
- Advance GDP data revealed softer than expected personal consumption, and weak
core PCE, although the headline Q/Q annualised GDP growth rate held steady,
topping exp. at the margin.
- China PMI data and Coronavirus case count eyed in Asia (death toll has risen
to 'at least' 212).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com