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Equities are finally taking a.......>

US TSYS SUMMARY
US TSYS SUMMARY: Equities are finally taking a breather with Treasuries one of
the beneficiaries, with strong bull flattening in the curve.
- Risk aversion started with some Korean peninsula tension overnight, but looks
more broadly like a case of retracement in risk assets after strong gains.
- The 2-Yr yield is down 1.2bps at 0.2143%, 5-Yr is down 3bps at 0.4169%, 10-Yr
is down 5.3bps at 0.822%, and 30-Yr is down 6.9bps at 1.573%.
- Sep 10-Yr futures (TY) up 13.5/32 at 137-23 (L: 137-10.5 / H: 137-27.5)
- 2s30s and 5s30s have retraced all of the steepening seen late last week.
- 2-day FOMC meeting starts today. MNI's preview was out yesterday, here's the
link if you missed it: https://emedia.marketnews.com/FedPrevJun2020.pdf
- Little data and no speakers, so $29bln 10-Yr auction at 1300ET the day's
highlight (also $100bln in bills). NY Fed buying $3.5bln in Tsys/TIPS today.

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