Little volatility on the eve of the release of the Fed's latest 'minutes'.
The 10-year T-Bonds are easing by -2.5Pts around 4.41% after an easing of -8Pts last week, which had brought it down to one-month lows, before a deterioration on Friday... and the '2 yr' erased -1.3Pt towards 4.824%.

'In our opinion, the minutes will have a more restrictive tone, in contrast to that of Jerome Powell's press conference, given that other members of the committee are more worried than he is about the effects of their policy', warn BofA analysts.

On the European bond front, Bunds and OATs are off by less than 1Pt at 2.99% and 2.500% respectively.

Note that bitcoin seems to be continuing to benefit from the fall in bond yields: it has reached new highs since April 8, at $71,200 (+6.2%), not far from the record high of $73,000 set on March 13 and 14.

On the energy front, oil prices continue to hover rather near the bottom of their range of the past 4 weeks: the death - apparently accidental in a helicopter crash - of Iranian President H. Raissi on Sunday only provoked a brief rebound to $84 for Brent.

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