while WE slept: USTs (and Global Wall) aggressively UNCH; 10s at (1st) resistance; "Seasonal patterns in ... 10y UST yield"; 'mystery bond buyer' identified (Bessent)

while WE slept: USTs contained (twisting flatter 'round 7s), bearish Bund bias o/n; S&P tgt UPdate (6050 from 5900 & next year TO 6700); lending data (C&I) multi yr HIGH ...

while WE slept: ; ... and 10 reasons Fed likely to start easing again (Jimmy P), more on 899 and an interesting twist on the '64k question' ... think NFP?

while WE slept: USTs "moderately cheaper in a relatively quiet overnight session", light volumes; Wally's bullish, US/China tensions; long bond buyers strike

weekly observations (06.02.25): watching 'double top risk' 30s (BAML); bullish bond seasonals (BMO); record SHORT FV (DB); DiMartino BOOTH, a must watch...

while WE slept: USTs marginally lower/flat ahead of PCE and month-end; tariffs sharing centre COURT w/month-end, some bond techs, NFP pre-caps and more...

while WE slept: USTs are 'twist-steepening' on heels of weak 40yr JGB; "Should the Fed Funds rate be higher?" (DB); not yer dad's ‘Widow Maker’ (dip buyers TLTs delivers gains...)

while WE slept: "Bonds bid and yields slump on MOF sources"; #Got2s?; "Long Bond Blues"; no 'wage-price spiral' for you!; dislocations;

... and another thing(s), observed: "Bidless bond"; fiscal (follies)first; (economic)risks skewed to downside; shippings a hassle; (CCCs)canaries in the coalmine

weekly observations (05.27.25): rates VOL (NOT the level) is what matters -DB; "Is the Fed easy?" -DB (hint, YES); Bianco on BONDS ... index extensions coming ...

while WE slept: USTs on 'firm footing'; sentiment (MSI) turns back down; stocks continue watchin' bonds; long-end perspective; TLTs supp & inflows

while WE slept: USTs a little firmer finding some reprieve following 20yr weakness; earnings - strong start to weak year?; JGBs warn; pensions funding secured (the upside of bond bloodbath...)

while WE slept: USTs on backfoot, Bunds outperf; #Got20s?; CNN reports and 'Earl is BID; "It speaks for itself" (where "IT" is USDJPY and 10yy, via DB); 10s TO 3.45; RIP, NORM!

while WE slept: USTs regain footing after poor 20y JGB auction; rent-to-own; "This downgrade is different" -DB; USTs extend 0.076y (slightly > May avg) -MS

while WE slept: all things are 'on sale' as markets continue to marinate in these Moody's Blues; "Unlikely to see forced selling of Treasuries" -BNP; updated f'casts (JPM) as narratives follow price..

weekly observations (05.19.25): Moody's reiterates USAs debt threat (attempt at relevance?); traded out bulls; holding onto narratives (upside rate risks evolving)...

while WE slept: 'USTs bear flattening, 'social buying' long-end despite 125% normal volumes'; Swiss Bliss for a Trade Kiss (thanks, Gemini) ...

weekly observations (05.12.25): belly cheapening; #Got2s -BMO does; equity OUTflows -BAML; specs record short 5s, ultra 10s -DB; recession probs down, S&P tgt UNCH -Yardeni

while WE slept: USTs are essentially unchanged; "Could US tariffs result in higher equilibrium level of interest rates? Yes." -DB; (BBG equity) Model SAYS ...

while WE slept: USTs currently a touch into the red (concession?); UK trade deal; FOMC recaps / victory laps (CONsensus around the wait N see); 100d of Trump in a chart (credit def swaps on USA)

while WE slept: "USTs traded without direction overnight but...", a twist flatter; "The Taiwan effect" -Saravelos; BBG’s NLP Fed Sentiment scoring model suggests ...

while WE slept: USTs 'slow start w/Tokyo out', volumes ~20% below 1m avgs; HKMA say wha?; WHY selloff unwound (and what next); “Multivariate Core Trend” Inflation Measure Hits 3.0% ... ruh roh?

while WE slept: USTs in narrow, holiday-inspired, range; FOMC will have patience, 2yy, well, not so much?

weekly observations (05.05.25): cuts pushed back; buyers of 2s on dips; buybacks @ record highs; "Bear Market Is Coming With S&P 500 Rally Stalling Soon" -DeMark; Barrons cover and more ...

while WE slept: USTs 'contained' into NFP; "Traders Hold Record Amount of <FV> Positions"