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The Treasury yield is mostly........>

US TSYS SUMMARY
US TSYS SUMMARY: The Treasury yield is mostly around 1.01.5bp higher across the
curve and there is a small curve flattening between 10Y and the Bond.
- Yellen spoke at the weekend in which she repeated that her best guess was that
the soft inflation readings would not persist and that gradual rate hikes were
coming.
- Data from the Commitment of Traders report shows near fresh highs in dealer
longs with the eurodollar space. It is likely that much of these positions
offset decent 0-2Y primary dealer positions and swap books. Primary dealer longs
in 0-2Y usually come from central bank selling.
- There is no coupon supply in the USD this week and the economic calendar is
fairly second tier.

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