T-Notes have had a look through.............>

US TSYS: T-Notes have had a look through yesterday's low after the re-open, but

hold a tight range last -0-04+ at 130-27+. Contract went out at lows on Tuesday,

after chopping around in a tight range. Cash was 2.7-3.3bp cheaper across the

curve come the bell.

- Fed dove Bullard sounded the most cautious in Tuesday's round of Fedspeak,

while Fed Chair Powell provided little new of note.

- Early, fresh all-time highs for U.S. equity markets added some pressure to the

space, before the major Wall St. benchmarks eased back from best levels.

- On the flow side, several TYH block sales provided the highlight Tuesday, some

being against Bunds, after the latest MNI sources story titled "Chances Rise Of

ECB Rate Cut On Data, Coronavirus" made the rounds

- The latest round of 3-Year supply provided a small tail alongside very

ordinary takedown metrics.

- Early Asia news flow has seen the growth rate at China's Coronavirus ground

zero (Hubei province) slow, with the latest daily death toll from the the region

lower vs. prev.