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Bonds Bouncing

US TSYS

Bonds bounce (30YY 3.5315) back above pre-FOMC levels as Fed Chairman Powell, answers question over size and pace of future hikes to bring inflation back to 2%. After raising 425bp this year, Powell said "we're into restrictive territory, it's now not so important how fast we go. It's far more important to think what is the ultimate level and then at a certain point, the question will become how long do we remain restrictive."
Yield curves flatter as short end lagging bounce so far.

  • 3M10Y +2.627, -84.96 (L: -98.936 / H: -82.129)
  • 2Y10Y -3.111, -75.444 (L: -77.576 / H: -65.961)
  • 2Y30Y -2.857, -72.079 (L: -75.785 / H: -59.826)
  • 5Y30Y -0.958, -12.807 (L: -16.004 / H: -5.285)

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