Early Bonds: U.S. Treasuries modestly higher. Crude oil spinning around $80 WTI while the U.S. Dollar Index is flat at 103.30.
Overnight trade saw more efforts to defend the yuan, as state-owned banks intervened in the offshore market while the People’s Bank of China announced a daily fix that was over 1000 pips stronger than what market expected
Yields:
2-yr: UNCH at 4.99%
3-yr: -1 bp to 4.70%
5-yr: -2 bps to 4.44%
10-yr: -3 bps to 4.31%
30-yr: -4 bps to 4.42%