What to Watch: Yields Gaining Ahead Front-Ended Tsy Supply

Tsy yields gaining/extending pre-open highs w/ 30YY 3.3198% +.0625, while yield curves bear steepen (2s10s +2.877 at 8.747; 5s10s still inverted at -4.796).

• Stocks holding modest overnight gains, ESU2 +14.25 at 3930.5; Crude making small gains (WTI +0.46 at 108.08); Gold stronger at 1835.79 at 1833.09 +6.21.
• Economic data: No Fed speakers Monday, but durables, cap-goods and pending home sales data up next at 0830ET:
  • Durable Goods Orders (0.5%, 0.2%); ex transp (0.4%, 0.3%)
  • Cap Goods Orders Nondef Ex Air (0.4%, 0.1%); ship (0.8%, 0.2%);
  • followed by:
  • Pending Home Sales NSA YoY (-3.9%, -3.9%); YoY (-11.5%, --) at 1000ET
  • Dallas Fed Manf. Activity (-7.3, -6.5) at 1030ET
• Flurry of Tsy supply ahead 4th of July extended weekend holiday:
  • US Tsy $42B 26W bill, $46B 2Y Note (91282CEX5) auctions at 1130ET
    
  • US Tsy $45B 13W, $47B 5Y Note (91282CEW7) auctions at 1300ET
• Geopol: Leaders Reaffirm Support For Ukraine "As Long As It Takes": The leaders of the G7 economies have released a joint statement on their stance towards Ukraine and Russia. This follows an address to the group from Uk Pres Zelenskyy earlier this morning. Note, wires reporting on Russia foreign debt default first time since 1918.