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AUSSIE 10-YEAR TECHS

(Z1) Shallow Bounce

USDCAD TECHS

Trend Needle Still Points North

WHITE HOUSE

Biden Losing Support On COVID-19 Strategy: Poll

AUDUSD TECHS

Slide Accelerates

LATAM

Snapshot: USDMXN Set To Post Highest 2021 Close

EURJPY TECHS

Still Looking For Weakness

US TSYS SUMMARY

Treasuries have steadily gained for most of the overnight session, though within ranges and on limited volumes, with the curve flattening.

  • Jun 10-Yr futures (TY) up 1.5/32 at 131-28 (L: 131-21 / H: 131-28.5); sub-par volumes (~220k).
  • The 2-Yr yield is down 0.4bps at 0.1488%, 5-Yr is down 2.1bps at 0.848%, 10-Yr is down 2.8bps at 1.6457%, and 30-Yr is down 2.9bps at 2.3323%. Note, curve came off session's flattest levels following a steepener block trade at 0509ET (+15k FV futs @ 123-27, -4.2k US futs @ 156-13).
  • S&P futs indicate another record high incoming; dollar off morning lows, now mixed/flat.
  • Fed Chair Powell appears on an IMF panel at 1200ET (topic is whether "vaccines can foster more inclusive growth"). We also hear from St Louis's Bullard (1100ET) and Minn's Kashkari (1400ET).
  • Weekly jobless claims at 0830ET the only data point of note.
  • Reminder, March FOMC minutes out Weds offered few surprises for anyone who's listened to Fed leadership over the past three weeks, though Powell's comments on administered rates adjustments were of some note.
  • In supply, $80B of 4-/8-week bill auction at 1130ET; we also get bill and coupon auction announcements at 1100ET. NY Fed buys ~$2.425B of 1-7.5Y TIPS.
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com