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US Treasuries are drifting lower

BONDS
  • US TYU4 is sold in 5.1k cumulative volumes through the low, taking its cue from the push lower in the German Bund.
  • Although some might look at last week's low of 110.06+ for support, better is seen towards 110.01+.
  • No new obvious driver for the small push lower, but the lack of liquidity (low volumes) is likely playing a part, with just a 5k lots moving the US 10yr.
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  • US TYU4 is sold in 5.1k cumulative volumes through the low, taking its cue from the push lower in the German Bund.
  • Although some might look at last week's low of 110.06+ for support, better is seen towards 110.01+.
  • No new obvious driver for the small push lower, but the lack of liquidity (low volumes) is likely playing a part, with just a 5k lots moving the US 10yr.