U.S. Treasuries shorter tenors slight relative strength.
Overnight action saw the release of a larger than expected February trade surplus from China, while the Reserve Bank of Australia announced a 25-bps hike, but also signaled some softening in its stance.
In the U.S., Fed Chairman Powell will begin his two-day Congressional testimony with an appearance before the Senate Banking Committee at 10:00 ET.
Later in the day, the U.S. Treasury will sell $40 bln in 3-yr notes.
Crude oil is giving back yesterday’s gain
U.S. Dollar Index is up 0.1% at 104.50.
Yield:
2-yr: -4 bps to 4.87%
3-yr: -4 bps to 4.59%
5-yr: -3 bps to 4.24%
10-yr: -4 bps to 3.94%
30-yr: -3 bps to 3.88%