T-Notes have picked up a bid as a......>

BOND SUMMARY: T-Notes have picked up a bid as a previously flagged NYT piece got

some broader airing. The story pointed to over 2.7K being under coronavirus

quarantine at their NY homes, mostly in self-isolation. Maryland's declaration

of a state of emergency over Covid-19 has allowed T-Notes to extend gains. The

contract deals +0-15+ ticks at 137-00+, through y'day's best lvls & hitting

session highs as we type. Cash Tsy yields sit 5.3-6.5bp lower across the curve.

We've heard of relatively ltd turnover in cash trade, even as volume in futures

picked up after the aforementioned NYT report. Eurodollars last seen -1.5 to

+3.0 ticks through the reds. Fed rhetoric from Kaplan, Kashkari & Williams

hasn't contained anything particularly surprising.

- JGB futs have followed suit & advanced; last trade at 154.48, 57 ticks above

settlement. Yields trade lower across the curve. Local data has been shrugged.

- A miss in Aussie retail sales reading for Jan has fuelled demand for Aussie

bond futs; YM +5.0 & XM +9.0. Curve has bull flattened, yields sit 3.1-11.1bp

lower. Bills last seen -7 to +1 tick through the reds. The AOFM's weekly

issuance schedule has been out & can be grabbed from an earlier bullet.