Choppy Rates As Equities Remain Buoyed

Tsy futures were back to mildly weaker after the closing bell, bid for rates evaporated late w/equities bouncing back toward late morning highs before settling in again (ESZ0 +49.0). Note, Dec 2-10Y futures extend session lows while long end outperforms. Choppy trade at best on mild volumes (TYZ <700k well after the close).

• Late session chop in equities after AstraZeneca headline: "U.S. TRIAL STAYS ON HOLD PENDING U.S. PROBE: RTRS".
• Decent pick-up in corporate issuance, $13B to price after more than $75B priced last week.
• Early jump in 3M FRA/OIS by 7.0005 to 23.6005 high -- is tied to 3M Dec Eurodollar futures taking place of now expired Sep futures. Front roll was 16.500, but now appr 22.700 as it covers Dec futures and year end.
• The 2-Yr yield is up 0.8bps at 0.135%, 5-Yr is up 1.1bps at 0.2627%, 10-Yr is up 0.8bps at 0.6739%, and 30-Yr is up 0.3bps at 1.4148%.