Mid-Session Interest Rate and Treasuries Report

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April 11th, 2012

US Treasury markets trended lower throughout the morning hours, pressured by a rebound in global equity markets and a poor turnout at a German Bund auction. Some traders viewed the turnaround in the US equity markets as a positive force reducing the safety-bid for US government debt. Meanwhile, comments this morning from Atlanta Fed President Dennis Lockhart seemed to play down the threat of another round of quantitative easing, without a further deterioration in economic conditions. Another force that could be pressuring long-end prices this morning is anticipation ahead of the US Treasury auction of $21 billion in 10-Year Notes.

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