11:50 am - Auction on Deck: The upcoming record sized $40B 3-yrs is expected to go fairly well with the market having been pretty friendly to the shorter dated offerings with each auction seeing a new record amount for sale. The previous, smaller, $39B was done at 1.445% with a 2.76 bid-to-cover and an indirect bidder participation rate of 49.1% against the 10-auction average in 2009 of 2.63 and 45.25% in ever escalating size. The market will be expecting a tougher time on the record $25B 10-yrs to go tomorrow, but likely still respectable, but the late week $16B 30-yrs, while not exactly failing, will have some trouble getting out of the gate.
11:34 am - Bills: Treasury's $30B 3-mos at 0.065% with 3.82 cover and an indirect bidder take of 36.8%. The $31B 6-mos at 0.165% with 3.62 cover and 45.4% indirect bidder take
11:18 am - Agencies: Fannie to sell $2B 3-mos and $2B 6-mos Thursday
11:17 am - Bills: Treasury to sell $30B 4-wks Tuesday
11:16 am - Issues: Cisco to sell a minimum $500M 5-10-and-30-yrs (est +70, +105 and +135 -DJ)
Transalta to sell a minimum $500M 5-yrs
CA Inc to sell $750M 10-yrs - Reuters
10:40 am - Under Pressure: The dollar has remained under pressure with the index getting hit with the G20 offering nothing in the way of concern over recent action while domestic rates are expected to remain "extremely low" for an "extended period." The index could potentially see 74.85 offering some minor support on the way to the 74.50 point. The euro has been holding through the big 1.50 area with players shaking off the safer plays, while retaining most of its recent gains on the yen, but backing off in some squaring, but still getting near 134.75 per. The yen has been able to hold through 90 on the buck for the session, grinding back to give up just 89.70 per buck in fairly quiet trade. Gold continues to ride the dollar's woes, clocking in at new record levels with spot now 1105.90 (+10.80). Crude has been boosted as weather concern adds to trade, running 79.10 (+1.67)
10:07 am - Agencies: Freddie sells $1B 3-mos at 0.080% with a cover of 4.12 and $1B 6-mos at 0.178% with a 3.90 cover - Reuters
09:59 am - Quiet: The market may make some plays for better levels but the fact of supply will continue to drag. The FOMC and payrolls are out of the way and the market has little to key off of outside of global supply. The day's record sized 3-yrs should go off fairly well, with the safety seeking still looking to treasuries, but keeping things planted in the shorter end of the curve. The upcoming record 10-yr will be well received, but Thursday's 30-yr may be a sticker wicket, with the longer dated issues coming in at historically low yields in the face of potential inflation are less likely to be easily swallowed. The curve has been grinding near the session's flattest on the 2-10-yr yield spread, but they remain around historic steeps
09:14 am - Sneaking Higher: The market is edging back with the 10-yr having pushed back to decisively take out the 3.5% point getting some help as bonds in Euroland pull better. The dollar has continued to get hit with the index the recent lows to tick back to 74.93 while gold continues to tick around near record levels. The curve has been being actively unwound as the market shakes off the week long stretch of steepening, having tagged 263.6.
08:41 am - Clawing Back: Treasuries got a bounce into the open, but are generally offered, the long end leading as
global supply drags on prices, stocks gain and the buck gets hit while gold gets back through to new highs. There was little to propel trade overnight with a smattering of eurozone items hitting with regional bonds somewhat bid, but globally mixed. The market is all about supply with the first batch hitting today with
$40B 3-yrs (13), while the rest of the weeks sees $25B 10-yrs and $16B 30-yrs (Tuesday and Thursday with the market closed Wednesday). Minor issues include the 4-wk announcement (11) and the 3-and-6-mos (11:30). The curve was sent slightly flatter with the
2-10-yr yield spread running 265.1. The dollar got dunked with the index hovering near the August 08 levels while the euro holding near 1.50, levels not seen since late October as officials' chatter about growth. The yen has been finding a bid, holding under 89.90 on the buck while trying to regain some of the ground lost on the euro on the renewed risk trade. The auction is the big event, with the $40B 3-yrs set to go off, while fed-speak offers little with gov Tarullo late, speaking on regulation (19:00).
Bond Ticker - Bonds Center - Yahoo! Finance
fare un piatto con quello che si ha in frigo 
