Remains steady during the EU session

US Treasuries saw a fairly steady session, in a tight range.

• This was inline with European government Bonds, which traded with a lack of direction bias.
• Curve saw initial bull flattening, but this was unwound, and the strip trades flat so far today.
• European equities, FTSE and Ibex were hit the hardest, with Healthcare and Travel leading losses, but this had limited effect into US equities or Treasuries, as investors await on more vaccine news.
• Looking ahead, US Retail Sales, and industrial Production are the more notable data, but with the street focused on Covid and fiscal stimulus, it is unlikely to move the needle.
• Plenty of Fed speakers are scheduled, including Powell, Bostic, Daly, Kashkari, Rosengren and Barking.
• TY1 futures are up 0-3 today at 138-04
• 2y yields unch today at 0.178%
• 5y yields down -0.6bp today at 0.401%
• 10y yields down -1.6bp today at 0.892%