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Withering risk appetite provided.......>

BOND SUMMARY
BOND SUMMARY: Withering risk appetite provided fuel for core FI, as concerns
over the coronavirus crisis resurfaced. Geopolitics was another source of worry
as North Korea vowed to scrap all communication lines with Seoul. T-Notes
climbed steadily, clearing yesterday's highs in the process. The contract last
deals +0-10 at 137-19+. Yield curve underwent some bull flattening in cash
trade. Eurodollar futures last seen unch. to +2.0 ticks through the reds. While
broader picture developments remain in focus, participants are already starting
to prepare for Wednesday's announcement of FOMC monetary policy decision.
- JGB futures rallied to a session high of 152.00, but bounced off that round
fig. resistance. They continue to trade at elevated levels, last at 151.92, that
is +27 ticks vs. settlement. Cash curve has flattened a tad, with yields sitting
lower. Local earnings data topped expectations.
- Australia returned from holidays with a double-barrel bond supply, as the AOFM
auctioned I/L ACGB 2.0% 21 Aug '35 & ACGB 0.25% 21 Nov '24. YM +0.5 & XM +8.0 at
typing, while cash curve was subject to the bull flattening impetus. Bills unch.
to -1 tick thru reds. ANZ  job ads & NAB Biz. Conf. both showed improvement.

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