Bearish Tone As Stocks Tentatively Find Their Feet

Tsys have weakened a little in overnight trade, but largely within the previous two sessions' ranges. The slightly bearish tone comes as stock futures tentatively find their feet, and amid continued anticipation of Friday's jobs data.

• The 2-Yr yield is up 0.2bps at 0.2796%, 5-Yr is up 1.3bps at 0.9571%, 10-Yr is up 1.4bps at 1.4928%, and 30-Yr is up 1.1bps at 2.0555%.
• Dec 10-Yr futures (TY) down 4/32 at 131-30.5 (L: 131-28.5 / H: 132-03.5).
• Fed speakers include Chicago's Evans on CNBC at 0845ET, and VC Quarles speaking on Libor transition at 1315ET. Note overnight, Fed announced it's conducting a review over whether some trades by Fed officials broke ethical standards/the law.
• Note Treas Sec Yellen is on CNBC too, at 0730ET. And Pres Biden meets w House Democrats on fiscal matters at 1015ET.
• Data today is highlighted by Sep ISM Services at 1000ET; we also get Aug trade balance at 0830ET and final Sep PMIs at 0945ET.
• In supply, $59B combined of 8-day/52-week bills sell at 1130ET.
• NY Fed buys ~$3.225B of 7-10Y Tsys.