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Knee-Jerk Bid as Stocks Trade Lower

US TSY FUTURES
  • Tsy futures draw recent support as stocks trading lower, SPX Eminis -9.25 at 4122.75, no obvious headline driver.
  • Overall volumes remain light (TYM3<137k) as apparent risk-off move sees 10Y futures extend highs (TYM3 115-30.5, +5).
  • Suspect whippy trade will continue today with London out for bank holiday, many US desks short staffed as well for an extended Easter holiday weekend.

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