U.S. Treasuries are on track for a lower start, making for a continuation of yesterday’s retreat. Treasury futures climbed after yesterday’s cash close, continuing their slow advance into the night.
The market reached highs during the early portion of the European session, but the past four hours have seen a slide to fresh lows.
Overnight action saw a mixed showing from global equity markets while sovereign debt trades mostly lower.
Japan’s Q1 GDP report showed a smaller than expected contraction while CPI figures from the eurozone and the U.K. remained elevated.