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5s30s Back Near Week Highs

US TSYS SUMMARY
Yield curves bent steeper Friday as 30Y Bonds extended session lows in late trade -- USU1 low of 158-18 back to level just before the FOMC annc last Wed. 5s30s Yield curve well off Mon's 107.7 low to 124.236 high. 10YY has climbed to 1.54% after holding near 1.49-.50% over the last week.
  • No headline driver as Bonds, Gilts and Bunds all came under pressure early in the session -- and gaining momentum through late trade.
  • Not a lot of conviction from traders as they awaited more Fed-speak:
    • KASHKARI: U.S. HOPEFULLY AT START OF A VERY STRONG RECOVERY; however ECONOMY IS STILL IN A DEEP HOLE, 7M JOBS SHORT Bbg
    • BOSTON FED ROSENGREN: SEES 7% AS `GOOD ESTIMATE' OF U.S. GDP THIS YEAR, Bbg
  • Focus turns to next week's employment report (+695k est vs. +559k prior). Sources did report real$ buying 7s, fast $ buying 10s after this morning's PCE.
  • The 2-Yr yield is unchanged at 0.2681%, 5-Yr is up 1.3bps at 0.9263%, 10-Yr is up 3.6bps at 1.5275%, and 30-Yr is up 6bps at 2.1577%.
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