T-Notes moved lower in Asia-Pac trade,......>

US TSYS: T-Notes moved lower in Asia-Pac trade, with an uptick in equities

(aided by the latest round of BoJ liquidity measures/"easing") & marketing of a

2-part round of US$ supply out of the Philippines (10- & 25-Year) applying

pressure after a limited start to trade, as participants attempted to weigh up

the latest COVID-19 developments (a net positive over the weekend) and the

continued uncertainty re: the health of North Korean leader Kim at the re-open.

- Contract last hovers off lows, -0-08 on the day, at 138-27+.

- Curve has steepened, 2s 0.2bp cheaper, 30s 2.2bp cheaper.

- Worth noting that there has been more attention on the short end, with EDM0

outperforming on the Eurodollar strip in the wake of Friday's 3-Month LIBOR

fixing ~10bp lower. This was aided by the highlight on the flow front, a 4.0K

lot lift of EDM0.

- 2- & 5-Year supply are set to headline local matters today, with an eye on

corporate earnings also warranted throughout the duration of this week.