T-Notes sit +0-05 at 139-00+ in early.......>

US TSYS: T-Notes sit +0-05 at 139-00+ in early Asia trade, trading around the

moves in e-minis.

- The aforementioned STAT news article re: Moderna's COVID-19 vaccine allowed

T-Notes to extend to fresh session highs late on Tuesday, although the contract

stuck within its recent range.

- 10s outperformed on the curve the with the 2s/30s spread sticking to ~4bp

range, finishing ~1bp flatter.

- Fed Chair Powell offered little new, while Fed dove Kashkari noted the

following: "I think all of us believe that there are other tools that we would

use before we would consider going negative" re: interest rates. Elsewhere,

Boston Fed President Rosengren said that the economic shock from the COVID-19

public health crisis cannot be reversed by businesses simply opening up, and

that unemployment could peak at close to 20%.

- 20-Year supply and the minutes from the Fed's latest MonPol decision headline

on Wednesday.