Free Trial

2s10s 5bp Steeper Today, But All Prior To Minutes

US TSYS
  • The net impact of large swings in USTs since the FOMC minutes has seen a curve largely unchanged, with 2s10s at 51bps.
  • This still marks a sizeable steepening though, up 5bps on the day as short yields dipped despite a series of beats in US data, and 13bps off Monday lows of 38bps as the 10Y sells off to circa 2.05% whilst short-end yields have struggled to move much higher under already aggressive rate path expectations.

USTs 2s10s spread (white) with 2Y yields (green) and 10Y yields (yellow)Source: Bloomberg

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.