U.S. Treasuries are on track for a higher start after two days of losses.
Treasury futures spent the early portion of the night in a sideways range with a slight upward bias. The quiet start gave way to a rally to fresh highs at the start of the European session. The market pushed to fresh highs about an hour ago, remaining near the best levels of the night at this time.
The U.S. Treasury will hold a $14 bln 20-yr bond reopening this afternoon. The U.S. Dollar Index is up 0.3% at 106.99, rebounding from three days of losses.
Yield Check:
2-yr: -5 bps to 3.17%
3-yr: -5 bps to 3.17%
5-yr: -5 bps to 3.10%
10-yr: -5 bps to 2.97%
30-yr: -4 bps to 3.14%