Fed's Bullard: Recent declines in T-bond yields show impact of coronavirus

The recent declines witnessed in the US Treasury bond yield are already showing the impact of the coronavirus outbreak, St Louis Fed President James Bullard said on Tuesday.

"Easing of trade uncertainty may set the stage for a rebound in manufacturing but we must wait and see how events in China evolve," Bullard added. "The US is soft landing following rate cuts last year, as housing and other interest rate-sensitive sectors rebound."

DXY stays in red

The US Dollar Index (DXY) largely ignored these comments and was last down 0.1% on the day at 98.75.