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2s30s Inversion Is Retracing


US 2s30s continues to uninvert: the spread is 10bp higher today amid long-end Treasury underperformance (this is a twist steepening: cash 2s are actually a touch stronger). the current -29.6bp level would be the least inverted close since Sep 13.

  • Long-end weakness is widespread across global core FI (German and UK 30Y are underperforming US), but the German and UK short-ends are also weakening.

US 2s30s Spread (bp)Source: BBG, MNI

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