Overnight Wrap_U.S. Markets

 USD Index consolidated sideways marking a peak of 103.824. The U.S. Treasury said it expects to borrow $ 760 bn in Q1 , $ 55 bn lower than Oct estimates assuming a cash balance of $ 750 bn at the end of March and it expects to borrow $ 202 bn in Q2 assuming an end of quarter cash balance of $ 750 bn. Crude Prices fell overnight despite the geopolitical angst after reaching a high of $ 84.10 to close the day 1.3% lower. Ahead of the FOMC meeting, expect sideways price action in the USD index.

Yields	High	Low	Close	DoD ▲
US 2Y	4.35	4.30	4.32	-3.30
US10Y	4.15	4.06	4.08	-6.50
US2s10s	-0.21	-0.25	-0.24	-3.00
US30Y	4.38	4.30	4.31	-5.70
JGB 10Y	0.73	0.70	0.71	-0.30
DE10Y	2.27	2.23	2.23	-7.20

On the EURUSD trade, we closed 75% of the position and are running 25%.