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5s / 7s Yields Drop To June Levels On Banking, Geopolitical Concerns

US TSYS
Yields drop sharply to session lows amid a confluence of headlines in the last half hour - a combo of continued US regional bank concerns after Wednesday's NYCB concerns (*KBW REGIONAL BANK INDEX EXTENDS SLUMP TO MORE THAN 5% - bbg) and geopolitical rumblings (US Def Sec-'Multi-Tiered Response' To Be Delivered After Jordan Attack - MNI).
  • The Treasury curve belly in arguably the most noteworthy move in terms of levels - 5Y yields briefly pierce 3.76% for the lowest levels since early June. 7Ys also touch lowest levels since June, through 3.80%.

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