Treasury Market Outlook: bonds have weakened as equities bounce
Treasury Market Outlook: bonds have weakened as equities bounce higher, though trading remained pretty quiet even as Japan reopened from yesterday's holiday. German and French bonds are leading core markets lower with yields up nearly 4 bps. The 10-year Treasury rate has edged up almost 3 bps to 2.486%. Asian stocks outside of Japan are higher, which helped European bourses into the green. The FTSE is underperforming after higher than expected inflation data added to worries over the hawkish shift in the BoE Thursday. A good performance from France's Marcon in yesterday's debate have further alleviated EU breakup fears. Meanwhile, Fedspeak will be active today amid an otherwise thin calendar. NY Fed's Dudley spoke at the BoE on bank ethics earlier. Hawks George and Mester will be taking to the podium too. As for data, just Q4 current account figures are on tap. Chain store sales posted a 1.1% decline. The earnings calendar will feature reports from FedEx, General Mills, Lennar Corp., Nike, Petrobras, and Silver Wheaton Corp.