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Gapping Lower After Equity Open

US TSY FUTURES

Bid in futures evaporated on the equity open, long end gapping lower now -- no specific driver, some cite House speaker Pelosi headline that she will "get something done" on economic stimulus package. Equities still weaker but bouncing (ESZ0 -30.0). Yld curves have turned mildly steeper, update:

  • 3M10Y +0.169, 58.672 (L: 54.951 / H: 58.672)
  • 2Y10Y +0.331, 54.987 (L: 52.785 / H: 55.346)
  • 2Y30Y +1.048, 133.479 (L: 129.961 / H: 133.741)
  • 5Y30Y +1.047, 119.202 (L: 116.42 / H: 119.491)
  • Current futures levels:
  • Dec 2Y steady at at 110-15 (L: 110-14.875 / H: 110-15.625)
  • Dec 5Y up 0.25/32 at 126-1 (L: 125-31.75 / H: 126-03.5)
  • Dec 10Y up 0.5/32 at 139-18 (L: 139-16 / H: 139-25)
  • Dec 30Y down 6/32 at 176-5 (L: 176-03 / H: 177-00)
  • Dec Ultra 30Y down 17/32 at 221-9 (L: 221-04 / H: 223-03)

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