US Tnotes continue to be............>

US TSYS SUMMARY: US Tnotes continue to be underpinned, better bid following the

surprised 0.50% cut and more expected at the March meeting, with OIS swigging

from 21bps to 44bps in priced cuts. 

-US 10yr Yields have recovered from their all time lows, where same type of

price action was also noted in TIPS, which are currently trading with a negative

real yield, having broken below zero for the first time ever yesterday. 

-Equities are somewhat buoyed, but still limited in the move with lack of real

traction. 

-Fed, if you are on the 50bps cut camp. 

-EDH0 which expire on 16/03 (Fed meeting is on the 18th) Is pricing rate to be

at 0.99% from 1.25% (so 25bps cut).. Might have further buying opportunities,

Focus on Libor fixing. 

-EDJ0 (April) which cover the Fed, prices rate to be at 0.85% (40bps cut). Does

not cover the 29/04 fed meeting. 

-EDK0 (May) which covers the 29/04 meeting is pricing Rate to be at 0.77%, so

pretty much 50bps cut.