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Weaker Within Ranges On Inauguration Day

US TSYS SUMMARY

Treasuries are a little weaker (within Tuesday's ranges and on lackluster volumes) ahead of the Biden presidential inauguration and 20-Yr supply.

  • Mar 10-Yr futures (TY) down 4/32 at 136-26 (L: 136-25.5 / H: 136-30.5), ~210k traded.
  • The 2-Yr yield is up 0.2bps at 0.1331%, 5-Yr is up 1.1bps at 0.4566%, 10-Yr is up 1.2bps at 1.1006%, and 30-Yr is up 1.1bps at 1.8451%.
  • Dollar is mixed/weaker, with equities stronger led by tech.
  • Inauguration gets underway at 1130ET with the national anthem and invocation. Biden sworn in at 1200ET, followed by a 20-30 min inaugural address.
  • Light data calendar (NAHB Housing Market Index at 1000ET).
  • In supply: $55B 105-/154-day bill auction at 1130ET, with $24B 20-Yr Bond re-open at 1300ET. NY Fed buys ~$2.425B of 1-7.5Y TIPS.
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BulletMarketsFixed Income Bullets

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