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Bond Markets Threaten Another Move Weaker after Downbeat Overnight Session
Posted to: Micro News
Monday, June 09, 2014 9:22 AM
Overnight participation in Europe was weighed down by the Whit Monday holiday (most markets open, but not all normal players present). Treasuries saw most of their movement during Asian hours where stronger GDP in Japan looks to have been the key consideration.
Even without data scapegoats, a case could be made that domestic bond markets are simply continueing the negative trends set in motion after running out of steam on Friday morning. The selling has been fairly linear since then.
There's nothing of note on the econ calendar and bonds are currently pushing their worst levels of the morning. 10yr yields are up just over 2bps at 2.619 and Fannie 3.5s are down 7 at 102-07.
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