Treasury Action: Treasuries are slightly firmer
Treasury Action: Treasuries are slightly firmer with the front end outperforming the long end. European sovereigns remain mostly in the green too, with the exception of France. There's some light safe haven demand into the weekend and the French election which is overshadowing a heavy supply calendar next week . Treasury is selling $195 B in bills, coupons, and an FRN. The when issued (wi) 2-year is 1 basis point richer at 1.20%, with the wi 5-year at 1.755% and the wi 7-year at 2.055%. Meanwhile, it's also month-end next Friday with the Barclays Treasury duration index estimated to extend out 0.07 year, about average. Trading is likely to remain choppy into the weekend, and on Monday as positions are hashed out.