Long-dated Treasuries Higher

Long-dated treasuries were higher on Monday in a day of quiet trading

It was a dull session in light of the lack of data and an electronic trading outage. Swap sales were evident as the corporate calendar grew. Dealers also prepped for Treasury supply announcement. The Treasury left the size of the 5-year unchanged at $15 billion, and the re-opened 10-year at $9 billion. The 5-year roll opened at +.75bps to +150bps. But trading more, or less, came to a standstill after CBOT electronic trading halted for most of the morning session and into the afternoon due to a computer glitch. While the pit open outcry took on the trading at the CBOT, liquidity was thin. So prices rebounded off the lows and back into positive territory, but sat in a tight range.

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