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New Bond Lows, Sale Volumes Surge

US TSY FUTURES
Yield curves rebounding as better selling in long end bleeds over to intermediates. Total Mar 10Y futures volume has surged to over 525k vs. 235k on open.
  • No obvious headlines or Block/crosses -- just accts absent for holidays catching up with the rise in Tsy yields.
  • Resumption of corporate issuance absent since around Dec 10 contributing marginally to selling.
  • 30YY tapped 1.9729% highest since Nov 24; 10YY 1.5914% highest since Nov 26.

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