Yields biased lower in early cash trade,....>

US TSYS: Yields biased lower in early cash trade, as the region reacts to a lack

of clarity re: the Trump administration's fiscal plan to fight coronavirus, with

divisions between the two political parties still evident re: the matter. U.S.

equity index futures lower, although the move is nothing like the extremes seen

recently... yet (S&P 500 e-mini -39).

- 3.2-6.4bp richer across the curve at typing, with T-Notes now at unchanged

levels, last 137-20.

- Still little in the way of chunky order flow noted on the move, indicating

that liquidity remains thinned on the back of the recent vol.