The Morning After the Night Before

U.S. 10s continued lower after the Eurex close, currently another 10/32s down. So I anticipate a test of the bund low this morning.
U.S 10 year

Bund

Expecting more 2s10s steepening

Teds range bound for now, will they lag the bond direction or will the lack of liquidity mean it comes off harder....Only the "market makers" can decide.

How did the ED$ fair overnight

U.S 10s vs Bunds, as expected U.S leads the way down......This am may see the bund catch up a bit.

 

 

 

Good luck.

L