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US TSYS: Yields biased lower in early cash trade, with nothing new in the way of
positives in Trump's address re: coronavirus, if anything markets are
disappointed with the regurgitation of what was known, as well as the potential
for some deflection towards Vice President Pence, as he is named head of
coronavirus response. Markets are still probably viewing the administration as
being behind the curve in its virus response, with Trump's latest commentary a
- Yields 0.9-2.6 bp lower across the curve, as bull steepening extends.
- T-Notes 0-05+ back from highs seen after the cash re-open, last -0-04 at