Volumes have been on the very low side, given Cash market closed, following UK Bank holiday, and re open this morning.
Curve is generally bear steeper in 2s/5s, 5/10s and 10/30s.
Very little in term of Month End flow so far, and likely that most has been done on Friday, with the UK closed.
Nonetheless, it is still worth noting that extension for Treasuries are very large for this Month, with Barcap index at +0.16yr.
Looking ahead, we have no data scheduled, and focus will squarely be on Fed speakers, VC Clarida, mon-pol webcast and Bostic,
2y yields up 0.6bp today at 0.134%
5y yields up 1.2bp today at 0.282%
10y yields up 1.9bp today at 0.743%
30y yields up 2.5bp today at 1.528%

MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com

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