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Risk-On Start

US TSYS SUMMARY

Quiet, low volume start to the week -- cautious start with significant event and dat risk ahead (first presidential debate Tuesday evening 2100-2230ET; Non-Farm payrolls Friday).

  • Eurodollar and Tsy futures held narrow range, off early session lows -- generally a risk-on tone to start with as global equities climbed higher (bank and energy stocks leading).
  • No data and some late Fed speak (Cleveland Fed Mester: "We are still in a deep hole") did little to move the needle on early week trade.
  • The 2-Yr yield is unchanged at 0.1289%, 5-Yr is down 0.5bps at 0.2626%, 10-Yr is up 0.5bps at 0.6594%, and 30-Yr is up 2bps at 1.4207%.

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