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.
    But the outlook remains extremely uncertain and any signs
that the pandemic is stabilizing should be viewed with utmost
caution, analysts said.
    Volume was light, with markets in Europe closed for Easter
Monday and spurring choppy market action.
    "The market wants to find confidence in some of the recent
developments, but I still think it's going to be a very long
slog," said Gennadiy Goldberg, senior rates strategist at TD
Securities in New York. 
    "We may probably have weakness in earnings and that would be
kind of a reminder that this is far from over and we will be
still going through a period of extreme uncertainty," he added.
    Over the weekend, major oil producers 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 off, with U.S.
stocks down on Monday. 
    "What seems apparent now is that many things can never be
taken for granted," said David Rosenberg, chief economist and
strategist at Rosenberg Research & Associates. 
    "The first is any notion that re-opening the economy is 
going to usher in a V-shaped recovery. It won't. That comes 
with either an effective treatment or a vaccine."
    In mid-morning trading, U.S. 10-year yields rose
to 0.737% from 0.722% late on Friday. 
    Yields on U.S. 30-year bonds were at 1.379%, 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%. 
      April 13 Monday 10:19AM New York / 1419 GMT
 US T BONDS JUN0               178-14/32    -0-13/32  
 10YR TNotes JUN0              138-40/256   -0-24/25  
                               Price        Current   Net
                                            Yield %   Change
 Three-month bills             0.285        0.2899    0.054
 Six-month bills               0.295        0.3004    0.054
 Two-year note                 100-71/256   0.2332    0.008
 Three-year note               99-214/256   0.305     0.013
 Five-year note                100-100/256  0.4204    0.009
 Seven-year note               100-18/256   0.6147    0.013
 10-year note                  107-56/256   0.7379    0.016
 30-year bond                  115-76/256   1.3734    0.025
   DOLLAR SWAP SPREADS                                
                               Last (bps)   Net       
 U.S. 2-year dollar swap        22.25        -0.75    
 U.S. 3-year dollar swap        15.25        -1.00    
 U.S. 5-year dollar swap        14.25         0.00    
 U.S. 10-year dollar swap        7.00         0.00    
 U.S. 30-year dollar swap      -35.50        -0.50    
 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Dan Grebler)

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