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T-Notes have ebbed lower and last......>

BOND SUMMARY
BOND SUMMARY: T-Notes have ebbed lower and last trade -0-00+ at 139-10, with
yield curve undergoing some bear steepening in cash trade. Eurodollar futures
last seen -0.5 to +0.2 tick through the reds. Wider focus has remained on the
coronavirus situation and tensions over Hong Kong, with participants assessing
chances of a quick economic recovery. Closely watched Chinese official PMI
gauges were slightly better than expected, but we work off of a low base here.
- JGB futures took a dip early on, as regional players reacted to overnight
developments. The contract sits at 152.02, -12 ticks vs. settlement. Marginal
outperformance in the front end/belly of JGB yield curve, with some steepening
creeping in. Eyes are on the upcoming 2-Year JGB supply after local labour mkt &
industrial output data missed expectations.
- Australian YM trades unch., with XM +0.5. The ACGB curve runs a tad flatter in
cash trade. Bills last trade unch. to -1 tick through the reds. Local private
sector credit figures, released a few minutes ago, were slightly worse than
forecast. RBA Dep Gov Debelle will deliver an address on "The RBA's Policy
Actions and Balance Sheet" within 45 minutes.

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