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Late Trade Simmer, No Sizzle

US TSYS
Both rates and equities are trading near the middle of their respective ranges:
  • Tsys still bid, but well off highs (5s30s yield curve actually a little steeper on day at 117.778 (+2.044).
  • Equities weaker but well off early session lows: ESU1 -35.0 at 4315.75.
  • Heavy volumes traded earlier, TYU1 near 1.7M at the moment, but is thinning out in late session trade -- waiting to see if week's risk-off tone extends moves into the close or if cooler heads step up to counter remains to be seen.

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