FED DISCOUNT WINDOW LENDING AT $5.87 BLN IN WEEK ENDED APRIL 8, DOWN FROM $6.01 BLN PRIOR

Treasury traders increased hedges for higher 5- and 10-year yields ahead of CPI, as oil-driven inflation risks persist. The 10-year yield held near 4.27%, with weaker bullish positioning. Jack McIntyre of Brandywine Global Investment Management said, “Markets are either going to be focused on inflation or employment… inflation gets all the attention.” Gregory Faranello of Amerivet Securities said, “We are positioned defensive… we don’t believe rates have the ability to sustain a move lower.”

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