Reply To: Traders Market Weekly: Memorial Weekend a Time for Reflection


U.S. Treasuries are on track for an extension of yesterday’s losses after a quiet night in the futures market. Treasury futures fell last evening, spending the Asian session near their early lows.

The market faced some more selling at the start of the European session but returned to last night’s levels over the past few hours. Overnight action saw the release of Manufacturing PMI readings from major economies with most reporting continued expansion while China’s Caixin Manufacturing PMI remained in contractionary territory for the third month in a row. Shanghai’s lockdown reportedly ended today. Crude oil has added to yesterday’s gain while the U.S. Dollar Index is up 0.3% at 102.01, rising for the second consecutive day.

Yield Check:
2-yr: +4 bps to 2.58%
3-yr: +5 bps to 2.76%
5-yr: +4 bps to 2.85%
10-yr: +4 bps to 2.88%
30-yr: +1 bp to 3.07%