T-Notes Tick Away From Thursday's Post-Auction Lows

T-Notes have inched higher as e-minis have backed off highs, but it is hard to name any catalysts beyond familiar concerns over coronavirus and U.S. fiscal matters. The contract last trades +0-01+ at 139-00+, near session highs. Bull flattening hits the cash space again, with yields sitting 0.4-1.6bp lower across the curve. Eurodollar futures trade -0.5 to +0.5 tick through the reds. China's data dump takes focus in Asia, while U.S. docket features domestic retail sales, industrial output, preliminary U. of Mich. Survey and a Q&A with Fed's Kaplan.

• JGB futures have wavered, looking for a clear direction, and last trade at 151.70, 17 ticks shy of settlement. Cash JGB yields generally sit slightly higher, with only 2-Year yields edging lower. An enhanced liquidity auction for off-the-run 5-15.5 Year JGBs headlines in Japan today.
• In Australia, YM -0.5 & XM -4.0; Yield curve has bear steepened, catching up with overnight dynamics in U.S. Tsys. Bills running 1-2 ticks lower through the reds. The space has shown little reaction to a parliamentary testimony from RBA Governor Lowe and ACGB 2.75% 21 Nov #28 supply.