BOE Rounds Out Steady CB Trifecta

Generally quiet session as the BOE rounded out the week's central bank trifecta of steady policy (FED, BOJ, BOE). Debate over early rally in Tsys -- whether tied to negative rate chatter in UK that coincided with rebound in Gilts soon after the annc (debatable, because talk of NIRP not new).

• Whatever the reason, support evaporated quickly, Tsys pared gains all session w/Dec 10Y futures slipping into the red late, Dec 5Y futures steady.
• Weakness was partially supply related with the Tsy auctioning a total of $155B 2s, 5s and 7Y notes next week -- early, but seemed as if participants were already rolling clocks ahead to Friday already now the Fed is out of way. Others suggested some disillusionment over Fed forward guidance for move.
• Pace of corporate supply eased slightly with another $5B on day.
• The 2-Yr yield is down 0.6bps at 0.131%, 5-Yr is down 1bps at 0.2723%, 10-Yr is down 1.5bps at 0.6822%, and 30-Yr is down 3.3bps at 1.4265%.