|10-Year: unch....%.... GNMAs: .... USD/JPY: 108.12.... EUR/USD: 1.1246|
--June PPI (Actual +0.1%, Briefing.com consensus 0.0%, Prior +0.1%)
--Core PPI for June (Actual +0.3%, Briefing.com consensus +0.2%, Prior +0.2%)
Searching for direction
- Treasury securities are chopping around the unchanged mark, having lacked any definitive direction in the cash session.
- The 2-yr note yield stretched up to 1.87%, but pulled back suddenly to 1.83% without a news driver and is now trading in the middle of that range.
- Overall, it has been a rough week for Treasuries, with upward yield changes of 11-14 bps for all instruments ranging from the 2-yr note to the 30-yr bond. Similarly, it has been a rough week for some European sovereigns, namely the 10-yr German bund, which has seen its yield move from -35 bps last Friday (and -40 bps on July 4) to -0.22% today.
- Yield check:
- 2-yr: UNCH at 1.85%
- 3-yr: UNCh at 1.83%
- 5-yr: -1 bp to 1.87%
- 10-yr: UNCH at 2.12%
- 30-yr: +2 bps to 2.66%