Bernanke’s testimonial takes center stage – RBS

FXstreet.com (New York) - According to the RBS Research Team, “US Treasuries opened up sharply unchanged as Japan is out on holiday and after Chinese economic data came out pretty much as expected.”

This week's US economic releases will be front loaded into Monday/Tuesday and then Bernanke's 10am Senate testimony on Wednesday will take center stage. Our overnight Treasury flows were predictably light with Tokyo closed for holiday. The only highlighted activity was some central bank selling in the front end. Total overnight Treasury inter-dealer broker volume was just 20% of the 10-day average.