Tokyo’s closure limited overnight trading in futures markets until 2am ET. In Europe, yields initially rose by about 1 basis point before gradually increasing during the US session. The selling trend is expected to persist due to increased auction supply from the US Treasury and critical CPI data on Tuesday.
Moderate losses were seen, with 10-year yields rising just 3.6 basis points to levels last seen in early January. European bond market weakness amid a glut of EU sovereign debt auctions contributed to the bearish impulses.
Source: https://www.mortgagenewsdaily.com/markets/mbs-morning-02112025