Tsy yield curves running steeper after the bell, short end outperforming, long end finishing near late session lows on modest volumes (TYZ2<1M). Market continues to weigh impact of reversal nearly all measures from UK 23 September mini-budget this morning.

• Officials say that PM Truss is not resigning and that there are 'no plans' to change the windfall tax on energy. Comes as four Conservative MPs have now openly called for Truss to go.
• Bonds lead the reversal off early session highs - no obvious headline driver. Any react to weaker-than-expected headline Empire number (-9.1 vs -4.3 survey and -1.5 prior) lost in the early morning shuffle.
• Data focus turns to IP/Cap-U, Net TIC flows on tap Tuesday.
• US Tsy auctions: No supply Tuesday.
• Fed speakers resume Tuesday:
  • Atlanta Fed Bostic, mediated virtual discussion, no text at 1400ET
  • MN Fed Kashkari on economy, moderated Q&A at 1730ET