U.S. Interest Rate Markets

June 10-year T-notes this morning are down -2 ticks. Monday's closes: TYM8 -0.5, FVM8 -0.5 Jun 10-year T-notes on Monday fell to a 3-week low and closed slightly lower on reduced safe-haven demand for T-notes on relief that the U.S. military strike on Syria is over and that there was no impact on Russian personnel or military assets. T-note prices were also undercut by the stronger-than-expected U.S. Mar retail sales report of +0.6%. T-notes found support on New York Fed President Dudley's comment that the Fed will stick to its "gradual" path of raising interest rates unless inflation moves up by an "appreciable margin."