As long as I continue to receive this stuff I will share … as the book handed off from U.K. to U.S. this is what happened while we slept
… Treasuries are modestly lower and the curve steeper out to 7's after a quiet overnight session that saw continued demand for long-end Treasuries out of Asia. DXY is slightly weaker (-0.1%) while front WTI futures are modestly higher (+0.5%). Asian stocks were modestly higher on balance, EU and UK share markets are slightly in the green, on balance, while ES futures are showing UNCHD here at 6:30am. Our overnight US rates flows saw Asian real$ demand for 5-30y USTs in moderate size again this morning. But overnight Treasury volume was notably weak at ~55% of average with 2yrs (30%) seeing the least activity and 10's (96%) the most on a relative average basis.
Emphasis MINE.
Side note — had very similar conversations to this CNBC story yesterday with a real estate guy in Florida…
… Why bother with armored cars and blazing guns when the SBA's PPP offered $100bn in online loot for criminals CNBC
My friend pointed out as there 3 individuals in same neighborhood (seven bridges) going to prison. HIS listings and future income, then, presents an apparent an upside TO PPP fraud?