Treasury Market Outlook: Treasury yields are edging slightly higher
Treasury Market Outlook: Treasury yields are edging slightly higher, in tandem with European sovereigns, as risk appetite improves. The 10-year Treasury is at 2.15%. Franc's CAC 40 is leading a rally in European bourses after French President Macron secured an absolute majority in parliament, as expected, as his party won the second round legislative elections over the weekend. Meanwhile, today begins Brexit negotiations between the UK and EU. A new Survation opinion poll showed 69% opposed a hard Brexit, and that supported modest gains for the pound against the G3 and other currencies. Japan's Nikkei climbed 0.62% on strong export data and a weaker yen, and China's Shanghai Comp rose 0.68% on reports authorities are mulling the removal of futures investment restrictions. This week's U.S. calendar includes a hefty slate of Fedspeak (eight, with five voters) which will be important for some clarity on the policy outlook. Today's slate has NY Fed's Dudley who addresses a business roundtable at 08:00 ET, while Chicago Fed's Evans speaks to the Money Marketeers at 19:00 ET. The economic slate is bare today and will remain light through the week.