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Citi Wary Of Continued Clean Up Into CPI, But Retain Bias For Lower Yields Medium-Term

US TSYS

Citi note that “Treasury yields soared on PPI and continued to climb on extremely stretched long positioning across curves. 2y yields rallied towards 4.25%, and 5y yields reversed north of 3.76%; however, the belly-to-back end of the curve saw the most notable yield gains: 10y yields came close to hitting 3.60%, and 30y yields maxed out ~3.57%-3.58%. There may be more longs to clean up ahead of Tuesday's CPI, though remind that Rates Desk Strategy's medium-term bias calls for lower yields across the curve.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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