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GILT SUMMARY

Sunak's Budget Faces Mounting Criticism

GLOBAL POLITICAL RISK

WHO Scraps Interim COVID Origin Rpt As Tensions Spike-WSJ

CORN TECHS

(K1) Remains Below The Feb Highs

SOY TECHS

(K1) Bullish Conditions Intact

US DATA

Q4 Final Productivity -4.2%; Unit Labor +6%

Thursday's trade a BIG let-down........>

US TSY FLOWS
US TSY FLOWS: Thursday's trade a BIG let-down after Wednesday's active session,
very quiet on net -- though month end flow saw heavy selling into the bell,
curves bending off flatter levels most of session. Futures gaining last few
minutes as selling evaporates. Equities sliding (SPX -12.0, 2783.0); US$ index
mildly higher (DXY +.044, 96.198).
- Much lighter option flow on day, but tone remains bearish for second day as
opposed to call buyers fading the move in the underlying.
- Rates opened bid but reversed direction/traded lower all session after GDP
+2.6; PMI 64.7 -- highest since Dec 2017. Little react to several Fed speakers
towing the line (on net). Mkts remain sensitive to US/China trade headlines.
- On tap for Friday: NA-made light vehicle sales throughout the session; January
personal income (0.3% est); Dec current dollar PCE (-0.1%); February Markit Mfg
Index; March Michigan sentiment index (f) (95.8 est); February ISM Manufacturing
Index (56.6, 55.5).
- Tsy cash/ylds: 2Y 99-30.62 (2.520%), 5Y 99-10 (2.521%), 10Y 99-04 (2.722%),
30Y 99-09.5 (3.086%).
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com