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Curve Bear Flatter, 5s30s Lowest Since Pandemic Started

US TSYS

Tsy yields continue higher after taking a breather post-CPI: 2Y eyeing 0.50% again and 10Y touching session high of 1.4982%.

  • Notably 30Y continues to outperform on the curve ahead of supply later: up 2.6bp at 1.8439%, 2bp off session highs.
  • 5s30s flattening down as far as 66.14bp, lowest since the pandemic started. 2s30s flattening as far as 131.96bp, lowest since October 2 2020 (a month before the election).

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