Free Trial

30y UST trades through for 2nd time in a row; $ long end credit spreads continue outperformance

MACRO CREDIT

30y 0.1bp through, Fed Barkin's Q&A begins

$21b 30Y UST Bond Auction (Reopen) in 5min. Last month's 30y (12th Dec) broke a series of tails to trade through 0.3bps, 5-auction avg. including that is -2.2 tail. Long-end credit spreads (index avg. ~23yrs) finished-2.7bps tighter yest. vs. index ($IG) -1.7bbps, continuing its outperformance this year (in spreads) - no noticeable skews in long-end books for ET's 10/30yr yesterday though noting total yield curve have traded flat this yr (~+35bps pick up vs. belly).

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.