Bond Watch:
U.S. Treasuries are set for a lower start, which will put the 3-yr note and longer tenors on track for their eighth consecutive day of losses. Last night’s debt ceiling meeting did not yield any immediate results, but both sides are remaining optimistic.
Crude oil is building on yesterday’s gain while the U.S. Dollar Index is up 0.3% at 103.52.
Yield
2-yr: +4 bps to 4.38%
3-yr: +4 bps to 4.04%
5-yr: +3 bps to 3.80%
10-yr: +2 bps to 3.74%
30-yr: +1 bp to 3.98%