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Us Treasuries have extended their...>

US TSYS SUMMARY
US TSYS SUMMARY: Us Treasuries have extended their move lower during European
morning session, taking cue from fall in German Bunds and UK Gilts following
upward revision to EMU mfg PMI, rebound in UK construction PMI and in-line
advanced EMU Q1 GDP.
- US 10y Tsy yield is 2.9888% up 2.4bps and look to test the 3.00% level again.
Curve is modestly steeper as 2-yr remains anchored. 
- Focus is on today's FOMC MonPol decision, with the Fed expected to stand pat.
Participants are looking to the June meeting, with markets fully pricing in a
hike at next month's decision. US ADP data also hits today. The US Tsy will also
announce its quarterly refunding details.
- In Asian US Tsys moved to session highs after the Washington Post reported
that US Special Counsel Mueller raised the possibility of a presidential
subpoena in a tense meeting with Trump's legal team, but eased with T-Notes
testing Tuesday's low after the Chinese Caixin PMI was slightly firmer than
expected.
- Eurodollar strip is steeper with green and blues 1 to 1.5 ticks lower.

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