Edging Higher Pre-Bank of England, Jobless Claims

Treasuries have traded a little stronger overnight, with front TYs nearing Tuesday's highs before easing off slightly.

• The 2-Yr yield is up 0.2bps at 0.1527%, 5-Yr is down 0.3bps at 0.7901%, 10-Yr is up 0.4bps at 1.5696%, and 30-Yr is up 0.5bps at 2.2471%. Jun 10-Yr futures (TY) up 3.5/32 at 132-21 (L: 132-17 / H: 132-23), on unremarkable volumes (~240k).
• Asia-Pac were sellers of cash Tsys at the re-open (the first round of cash trade during Asia-Pac hours for the week owing to holidays), but steepening largely reversed in European trade.
• Immediate global focus is on the Bank of England decision at 0700ET (possible asset purchase taper). US Equity futures are flat but have traded in a fairly wide range; w USD weaker (DXY -0.3%).
• A jobs data-focused couple of sessions begins w Apr Challenger job cuts at 0730ET, followed by weekly jobless claims at 0830ET, ahead of Friday's nonfarms.
• The parade of Fed speakers continues: NY Fed's Williams at 0900ET, Dallas' Kaplan at 1000ET, and Cleveland's Mester at 1300ET. We've heard from all of them - and in some depth - this week already though. Fed Fin Stab report out at 1600ET.
• In supply, $80B of 4-/8-week bills auctioned at 1130ET. NY Fed buys $1.225B of 7.5-30Y TIPS.