T-Notes received a boost and last trade.....>

US TSYS: T-Notes received a boost and last trade +0-26+ at 134-29 as the ECB

unveiled a EUR750bn asset purchase programme to counter the economic impact of

the Covid-19 pandemic and said it will consider raising its limits on QE

holdings. The announcement was accompanied by a bold, "whatever-it-takes"

rhetoric as Pres Lagarde said there is no limit to the ECB's commitment to the

euro. Also worth noting that the ECB will buy Greek debt, something it hasn't

done under its pre-existing QE programme.

- In the U.S., the authorities have ramped up efforts to counter the coronavirus

outbreak. Pres Trump signed an exec order, which allows the federal gov't to

assume wide control over the production of healthcare items. The Senate has

passed the second coronavirus bill & works on the third one. Fed's Kashkari

appeared on CNN, urging the Congress to act quickly and aggressively.

- U.S. Tsy yields sit 4.8-6.4bp lower across the curve.

- Eurodollars last seen +1.5-4.0 ticks through the reds.

- Coming up today we have U.S. Q4 current a/c balance & Philly Fed Survey.