A US 10-year auction is the highlight on an otherwise-quiet economic calendar today. Right now 10s are down 0.4 bps to 4.28% and the auction will set the tone for what’s next.
The Fed is in the blackout period and the ECB decision is on Thursday so everyone is hunkered down for news. Oil just added to gains, up $1 and that’s one spot worth watching because the bond market could get nervous.
US 10 year yield