Treasuries have bounced from the....>

US TSYS SUMMARY: Treasuries have bounced from the lows set in early Wednesday`s

European trading, but curves remain steeper.

- Mar 10-Yr futures (TY) down 6.5/32 at 130-25.5 (L: 130-20.5 / H: 130-30), with

the cash curve bear steepening: 2-Yr yield up 0.6bps at 1.4296%, 5-Yr up 0.8bps

at 1.4289%, 10-Yr up 1.2bps at 1.6126%, 30-Yr up 0.7bps at 2.0733%.

- Pressure overnight came from continued risk-on (equities pushing higher) and

slowing of China Coronavirus death toll / growth in new cases.

- Hawkish RBNZ also weighed on global FI, as arguably did Sanders` expected win

in NH primary (seen as less likely to beat Trump, so risk-on).

- Philly Fed`s Harker discusses the economic outlook at 0830ET; SF`s Daly makes

an appearance at 0900ET.

- Powell's testimony before the Senate Committee on Banking, Housing and Urban

Affairs will begin at 0930ET, NOT 1000ET as previously scheduled. No new text

expected, but will be Q&A. Again, don`t expect much new.

- On Tues, Fed presidents made case for holding; Bullard said rates are "steady

as she goes"; Kashkari said coronavirus isn't major risk to the US economy.