T-Notes tight at the re-open, +0-00+ at.....>

US TSYS: T-Notes tight at the re-open, +0-00+ at 129-25+ as we type.

- Growing worries re: Coronavirus supported the space during Thursday's session,

with T-Notes peaking late in the NY morning. Contract faded from best levels

after the WHO decided not to declare the Coronavirus outbreak a public health

emergency of international concern, although the decision seemed quite a close

call and could be revisited at any time.

- Curve bull flattened on the day.

- Sources flagged some selling in off the run paper from dealers, as well as

real money buyers of 2s10s flatteners & outright 10s . There was also some talk

of central bank accounts selling 5s, while prop accounts were seemingly active

buyers of 2s & 5s. Block trade saw a sizeable TU/US flattener put into play.

- Focus Friday turns to flash PMI data.