Fixed Income Update
Bonds are well bid to begin the week with the 30yr up 0.55% with a yield of 4.293% and the 10yr up 0.38% with a yield of 3.406% and the 2yr yield at 1.59%. The short end of the curve is marginally higher with the 4week bill yield down 2 bps 1.25%, the 3month bill yield down 4 bps to 1.33% and the 6month bill yield down 3 bps to 1.48%. Fed Fund futures show a 56% chance of a 50 bps cut on April 30th.
European bonds are also higher with the 10yr Gilt up 0.23% with a yield of 4.377% and the German 10yr Bund up 0.107% with a yield of 3.921%.
The greenback is mixed with the USD Index trading flat at 71.686. EUR/USD is up 0.1% to 1.5811 and Cable is down 0.41% to 1.9861. USD/JPY is up 0.12% to 99.35 and USD/CAD is up 0.5% 1.0279.