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Block Flow Since NY Filed In Helps Bear Flattening Impulse, BoC Eyed

US TSYS

Block flow in Tsy futures has helped maintain the bear flattening momentum since NY settled in (for a cumulative ~582K DV01), with the recent TY/WN block flattener (~$465K DV01) also factoring in. The 5/30-Year spread operates just off the recent multi-week flats as a result. The local docket is limited, which puts extra focus on the impending BoC decision, particularly given Fed Chair Powell’s previous references to monetary policy North of the border (click for more details).

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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