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

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.