T-Notes have climbed after the NYT.....>

BOND SUMMARY: T-Notes have climbed after the NYT reported that the White House

has asked state off'ls to "delay releasing the precise number of unemployment

claims," inviting suspicions that the numbers may paint a particularly bleak

picture. The focus then turned to California Governor Newsom, who ordered all

residents across the state to stay at home. This kept T-Notes at elevated

levels. The contract last sits +0-08 at 135-15. Liquidity is thinned & cash Tsys

are closed due to a public holiday in Japan. Eurodollars last seen -7.75 to +0.5

tick through the reds.

- Australian YM +4.5 & XM +25.0 as we type. The space showed muted reaction as

the RBA offered to buy A$5bn of ACGBs, including the Jul 2022, Apr 2023, Nov

2027 & May 2028 notes. XM posted a modest knee-jerk to a session high, but

promptly faded the move. In cash trade, curve runs flatter & yields sit

1.8-20.0bp lower. Bills trade -2 to +7 ticks through the reds. In local news,

Australian banks unveiled measures to help their customers through the

coronavirus crisis, while Treasurer Frydenberg noted that the gov't is readying

another stimulus package, larger than the first one.