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Taking A Breather

US TSYS

Treasuries are off the highs, taking a breather from the gains of the previous three sessions. Volumes a little higher than yest (185k TYU0 traded).

Curve a little flatter: the 2-Yr yield is down 0.6bps at 0.1113%, 5-Yr is down 1.3bps at 0.2185%, 10-Yr is down 1.5bps at 0.5314%, and 30-Yr is down 1.9bps at 1.1882%.

Sep 10-Yr futures (TY) up 2/32 at 140-2.5, TY1s touching best levels since March 9 (L: 139-31 / H: 140-06).

After yesterday's strong earnings by a few of the giants, tech companies are leading stocks higher (Nasdaq outperforming, futs +0.9% vs +0.2% for S&P)

Attention will be on fiscal negotiations in Washington. Tsy Sec Mnuchin saying late yest that best case would be a deal in "next few days".

Plenty more data to round out the week: personal income for June at 0830ET, MNI Chicago PMI for Jul at 0945ET, UMich final Jul sentiment at 1000ET.

NY Fed buys ~$8.825B of 2.25Y-4.5Y Tsy.

BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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