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Making New Lows, Yields Surge

Extending the sell-off, heavy volumes w/TYM>1M now, yield curves bear steepening w/ long end underperforming after overnight spike in Tsys yields on back of Nikkei report the BoJ will widen 10Y JGB yield band at Fri's policy annc. Currently:
  • 10YY 1.7490% +.1063 vs. 1.7526%H -- Jan 2020 lvls;
  • 30YY 2.5048% +.0868 vs. 2.5146%H -- early Aug 2019 lvls.
Yield curves steeper, 5s30s tap 166.24, 163.385 last Overnight Block recap: 5s vs. 10s and 30s steepeners:
  • +13,267 FVM 124-00.75 buy through 124-00.25 offer at 2102:49ET vs.
  • -8,371 TYM 131-31.5, sell through 132-00 post time bid
  • +4,600 FVM 123-30.25 buy through 123-30 post-time offer at 2344:48ET vs.
  • -750 USM 124-20, post time bid
  • +2,900 FVM 123-30.25, buy through 123-29.75 post-time offer at 0026:41ET vs
  • -1,250 TYM 131-24, post time offer
  • +5,500 FVM 123-26, buy through 123-25.75 post-time offer at 0438:07ET vs.
  • -2,850 TYM 131-13, post-time bid

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