US Treasuries open NY higher, 10Y yield is 1.924%, vs. 1.97% 3pm last Fri, amid European stocks weakness, higher Bunds. IN TOKYO, Treasuries saw gains amid safe-haven buying as core EGBS boosted by weakness in EGB peripheral debt. Asian buy-and-hold accounts bought US 10-year notes. In LONDON Treasuries gains continued, longer end leading, initially on renewed fear over eurozone after French elections and Dutch govt problems. Trading desks led the buying, with real money demand in London pushing yields to low of 1.925%, then 1.912% most recently as of 7:01 a.m. ET, lowest since roughly Feb. 3. German 10Y Bund yield recently fell to new record low at 1.656% at 7:06 am amid broad risk-off sentiment, French elections, European PMIs weaker than expected. Fast money selling arose in long-end Tsys. European stocks indexes off roughly 2%-plus across the board with Swiss index off just a bit less. US stocks index futures declined. Foreign central bank bid arose in 10Ys. Certain EU govt paper drew brisk selling.
EasyForexNews Research Team