Treasury yields are 3 to 4 bps lower this morning and equities are mixed, with S&P futures up 0.08% while the Dow is down 0.06%. Blackrock began liquidating SVB’s and SBNY’s portfolios last week on behalf of the FDIC. The bid lists were generally orderly and well bid, but the lists were fairly small and easily absorbed; activity starts to pick up this week as lists will be traded Tuesday through Thursday of this week. The economic calendar is light today but will pick up towards the back end with initial jobless claims and GDP out on Thursday.
Hafizan Hamzah
Senior Director, Investment Management Group
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