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Curve Disinversion Accelerates

US TSYS
A short-end rally following the soft June CPI print sets the Treasury curve up for its biggest steepening since March 23rd (which was in the context of a broader steepening over the course of the month on banking sector turmoil). See chart for daily change.
  • 2s10s +7.1bp (27bp off recent inverted lows, at -83.4bp) , 5s30s +13bp (38bp off recent inverted lows, at -9.2bp)

Source: BBG, MNI

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