Markets continue to respond to news reports highlighting the (admittedly slow) spread of COVID-19. It’s raised demand for US treasuries, with yields falling further today along with expectations that the Fed will have to react. But how quickly? Phil Dobbie asks NAB’s Gavin Friend in London. They also discuss the widening gap between the EU and UK on Brexit negotiations, as the EU lays out its red lines and the UK to show their hand this week also.