U.S. Interest Rate Markets

June 10-year T-notes this morning are down -7.5 ticks at a 3-week low. Friday's closes: TYM8 +0.50, FVM8 -0.75. Jun 10-year T-notes on Friday closed higher on anticipation of the U.S. military strike on Syria and on the weaker-than-expected University of Michigan U.S. Apr consumer sentiment report. T-notes were also supported by dovish comments from St. Louis Fed President Bullard who said "the outlook for the policy rate is flat and that we are either at neutral or close to neutral right now," which signals he feels the Fed is close to the end of its tightening cycle.