The first Nigerian case of.............>

AUSSIE BONDS: The first Nigerian case of coronavirus (with worry re: the spread

in Africa evident), continued worry in South Korea re: the virus, further signs

of the virus' effects on supply chains and spill over from U.S. trade (which saw

the 3 major U.S. equity indices enter technical correction) dented risk

sentiment in Asia-Pac trade. 10- & 30-Year Tsy yields made fresh all-time lows,

T-Notes last +0-13 at 133-23+, yields sit 0.3-1.4bp lower across the curve

after, an early, marginal dip.

- JGB cash trade saw the long end of the curve catch up to the early

outperformance in the belly, while futures marched higher, last +34 ticks above

yesterday's settlement levels. Bulls now look to 154.04 in futures, the 61.8%

retracement of the Sep-Dec 2019 decline after forcing a break of the overnight

high.

- Aussie bonds were bid, reversing an early dip that came alongside Tsys,

although it was very limited in nature, with month-end buying a fresh all time

lows for 3- & 10-Year yields in focus. YM +3.5, XM +1.0, Bills print 2-4 ticks

higher through the reds.