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T-Notes rallied on Hubei province's daily...>

US TSYS
US TSYS: T-Notes rallied on Hubei province's daily Coronavirus count as the
number of new cases declared surged (although there are all sorts of questions
re: the new methodology with clinical cases included, as outlined in previous
points). We still await the daily national count. Fresh highs were printed in
T-Notes as Europeans started to filter into their desks, reacting to the news.
Contract +0-09 at 130-31, 0-01 off highs, yields 3.2-4.1bp richer across the
curve, belly outperforming. Strong volume in T-Notes, >330K lots on the day.
Flow saw a screen seller of TYH0 130.25 puts overnight, as well as a 10K screen
buyer of USJ0 154.00 puts. This came after a late chunky (> 25K) TYH0 block
seller pressured the space ahead of Wednesday's close.
- Eurodollar futures print +1.0 to +3.5 through the reds. 20.0K of the 0EH0
98.500/98.875 risk reversal was blocked at 0.00 overnight, selling the calls to
buy the puts.
- CPI, real earnings and 30-Year supply headline today's local docket. Elsewhere
Fedspeak comes from Williams & Kaplan, and we will see the Senate hearings re:
Fed Board nominees Shelton & Waller.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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