* U.S. virus outbreak nearing a peak -CDC official * Governor says worst may be over for New York * OPEC deal on output oil cut step in right direction -analyst (Adds comment, NY's Cuomo remarks, updates prices) By Gertrude Chavez-Dreyfuss NEW YORK, April 13 (Reuters) - U.S. Treasury yields rose on Monday, bolstered by some glimmer of hope after a major deal to cut global oil output and address a glut that has damaged the energy sector, amid signs the coronavirus outbreak may be nearing a peak in the United States. U.S. yields were also pushed higher following comments from New York Governor Andrew Cuomo, who said the worst may be over for his state in terms of the pandemic and is set to announce a coordinated regional plan on reopening business and schools later on Monday. But the outlook remains extremely uncertain and any signs that the pandemic is stabilizing should be viewed with utmost caution, analysts said. "There's a little optimism in the market just on the coronavirus front as the numbers have been encouraging," said Collin Martin, fixed income strategist at Schwab Center for Financial Research. "And over the weekend, the OPEC deal is clearly a step in the right direction. But we're only seeing a modest uptick on Treasury yields and that's probably indicative of the negative effects that we're seeing and likely to see," he added. Volume was light, with markets in Europe closed for Easter Monday and spurring choppy market action. Major oil producers over the weekend agreed to their biggest-ever output cut. But crude prices fell on concerns even that would not be enough to head off oversupply with the coronavirus outbreak crushing demand. On the pandemic front, a top U.S. health official said on Monday the coronavirus outbreak could reach its peak in the United States this week, pointing to signs of stabilization across the country. The United States, with the world's third-largest population, has recorded more fatalities from COVID-19 than any other country, more than 22,000 as of Monday morning, according to a Reuters tally. Despite more positive news, risk appetite was still off, with U.S. stocks down on Monday. David Rosenberg, chief economist and strategist at Rosenberg Research & Associates, says any notion that re-opening the economy is going to usher in a V-shaped recovery is misplaced. He said a U.S. recovery can only come with "either an effective treatment or a vaccine." In midday trading, U.S. 10-year yields rose to 0.728% from 0.722% late on Friday. Yields on U.S. 30-year bonds were at 1.360%, up from 1.348% on Friday. On the short end of the curve, U.S. 2-year yields were last at 0.233%, up from Friday's 0.225%. The U.S. Treasury's substantial $105 billion in three-month and six-month bill auctions were well subscribed on Monday as demand for quality debt remained high. April 13 Monday 1:29PM New York / 1729 GMT Price US T BONDS JUN0 178-23/32 -0-4/32 10YR TNotes JUN0 138-56/256 -0-8/256 Price Current Net Yield % Change (bps) Three-month bills 0.25 0.2543 0.018 Six-month bills 0.28 0.2851 0.039 Two-year note 100-69/256 0.2372 0.012 Three-year note 99-214/256 0.305 0.013 Five-year note 100-106/256 0.4156 0.005 Seven-year note 100-28/256 0.6089 0.007 10-year note 107-80/256 0.7284 0.006 30-year bond 115-168/256 1.3599 0.012 DOLLAR SWAP SPREADS Last (bps) Net Change (bps) U.S. 2-year dollar swap 21.50 -1.50 spread U.S. 3-year dollar swap 14.25 -2.00 spread U.S. 5-year dollar swap 13.25 -1.00 spread U.S. 10-year dollar swap 6.25 -0.75 spread U.S. 30-year dollar swap -36.75 -1.75 spread (Reporting by Gertrude Chavez-Dreyfuss; Editing by Dan Grebler)
Our Standards: The Thomson Reuters Trust Principles.