|10-Year: UNCH....%.... GNMAs: .... USD/JPY: 111.91.... EUR/USD: 1.1245|
-- U.S. Dollar Index sets fresh 2019 high
-- 9:00 ET: February FHFA Housing Price Index (actual 0.3%; prior 0.6%)
-- 10:00 ET: March New Home Sales (actual 692,000; Briefing.com consensus 646,000; prior 662,000)
-- 13:00 ET: $40 bln 2-yr Treasury note auction meets solid demand
Flat Start in Sight
- U.S. Treasuries are on track for a slightly lower start to the Tuesday session. Treasury futures followed yesterday's retreat with a small bounce during the early portion of the overnight session, but the slim gains were surrendered as the night continued. The recent pullback has pressured most tenors to their lows from Monday. The U.S. Dollar Index is up 0.1% at 97.34, looking to reclaim its loss from yesterday.
- Yield Check:
- 2-yr: +1 bp to 2.40%
- 3-yr: +1 bp to 2.36%
- 5-yr: UNCH at 2.39%
- 10-yr: UNCH at 2.59%
- 30-yr: +1 bp to 3.00%
- Reuters reported that the People's Bank of China is unlikely to cut the reserve requirement ratio in the near term, but the central bank's overall easing bias is likely to remain in place.
- The spread between Italy's 10-yr yield and Germany's 10-yr yield is on the verge of hitting a two-month high due to speculation that Standard & Poor's could lower the country's BBB rating when it conducts a review on Friday.
- Greece officially submitted a request to repay a portion of its IMF loan ahead of schedule.
- There has been renewed speculation about British Prime Minister Theresa May being forced out of her post if she does not resign by the end of June.
- WTI Crude: +0.2% to $65.69/bbl
- Gold: -0.2% to $1274.50/ozt
- Copper: +0.2% to $2.91/lb
- EUR/USD: -0.1% to 1.1245
- GBP/USD: +0.2% to 1.3001
- USD/CNH: +0.2% to 6.7218
- USD/JPY: UNCH at 111.91
- Data out Today:
- 9:00 ET: February FHFA Housing Price Index (prior 0.6%)
- 10:00 ET: March New Home Sales (Briefing.com consensus 646,000; prior 667,000)
- Treasury Auctions:
- 13:00 ET: $40 bln 2-yr Treasury note auction results