Treasury Market Outlook: equities continued to weaken
Treasury Market Outlook: equities continued to weaken and remained under pressure overnight sure, despite confirmation that China's Vice President Liu will visit the U.S. on May 9 and 10 for further talks. U.S. futures are about 0.6% lower, as is the DAX, and the FTSE is down 1.05% as it reopens and plays catch up to yesterday's action. China's CSI 300 bounced 0.98%. Bonds are mixed as Treasuries have edged off of earlier lows and are unchanged to cheaper. The 2-year note is flat at 2.288%, while the benchmark 10-year is 0.4 bps higher at 2.473%. EGBs are richer, led by the Gilt's 4 bp drop to 1.176%. The Bund is 3 bps lower at -0.025%. German manufacturing orders bounced less than expected. The RBA disapointed easing expectations and left rates unchanged. The U.S. slate includes a $38 B 3-year auction to kick off the $84 B May refunding. There's also March JOLTS and consumer credit reports, and Fedspeak from Kaplan. Earnings include Allergan, Anheuser-Busch Inbev, Atmos Energy, Diamondback Energy, EA, Ferrari, FleetCor, Lyft, Mylan, and Regeneron Pharmaceuticals.