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Bonds Extend Lows

US TSY FLOWS
Bonds leading midday sell-off to new session lows, rather muted volumes, TYM1 still under 700k at the moment. S&P emini futures steady around 4180.0.
  • Trading desks citing auction set-ups ahead the $62B 7Y auction, rollers in 2s and 5s, fast$ selling 7s.
  • Otherwise rather quiet on the headline front (lull ahead Wed's FOMC, heavy earning slate next week and NFP next week Fri (current median est +900k), though EXXON and JPM planning on re-staffing offices in May and July respectively provides some positive news.

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