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Bond Markets Slightly Stronger Ahead Of Data
Posted to: Micro News
Friday, February 8, 2013 8:29 AM

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It was a generally quiet overnight session for bond markets. 10yr Treasuries rose toward 1.97 in early Asian hours, but improved steadily before meeting resistance just above yesterday's low yields.

The European session brought stronger-than-expected Trade data from Germany. While this did have some upward pressure on yields, it was even less than that seen earlier in the session and 10's stayed under 1.96, finally moving quickly back to 1.94 as early domestic trading got underway.

10's are currently at 1.941. S&P futures are 1 pt off yesterday's 4pm levels after treading only about 4 points higher overnight and Fannie 3.0s opened 4 ticks higher at 103-14. International Trade is coming up at 8:30am and expected to show a slightly narrowing trade gap of $46 bln vs last month's $48.7 bln. After that, Wholesale Inventories at 10am is the only remaining report of the morning.

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