Courtesy of CRT Capital:
Treasuries started with a strong volume profile overnight and managed to extend that in the NY session – peaking at 114% of the 10-day moving-average. Activity slowed in the afternoon as prices stabilized, but nonetheless at 97% of the 2-week norms volumes were strong for a Monday. 5s held the position as the most active benchmark and took a 34% marketshare, while 10s were a distant second with just 24% of flows. 3s took 15% and 2s 13%. 7s and 30s brought up the rear with 9% and 5%, respectively.