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Bonds Reverse Recent Gains

US TSY FLOWS
Yield curves off lows/mostly steeper on net (5s30s +2.119 at 120.42) as 30Y bonds inch lower after posting modest gains. Volumes running light (TYU >385k) at the moment, while 10YY remains close to 1.49% since Monday.
  • Not a lot of conviction from traders as they await more Fed-speak today. U-Mich sentiment at the top of the hour, while larger focus turns to next week's employment report (+695k est vs. +559k prior).
  • Sources did report real$ buying 7s, fast $ buying 10s after this morning's PCE.

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