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5s30s Yield Curve Precipitous Decline

US TSY FUTURES
Back to last week's theme: Tsy 30Y Bonds outperforming amid mostly weaker futures prices ahead midday (30Y Ultra-Bond trading higher), lending to broad flattening in longer yield curves -- with 5s30s back to late April 2020 levels.
Friday saw some position unwinds in Tsys as equities climbed to new October highs, are back to supporting Bonds as equities gain (ESZ1 4474.5 high).
  • Trading desks report better selling in 5s-10s from real$ and bank portfolios, tactical steepener unwinds, deal-tied selling as corporate and supra-sovereign issuance picks up.

5s30s Tsy Yield CurveBloomberg/MNI

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