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Midday Short End Buying

US TSYS

Yield curves flatter but off lows as futures turn steady to mixed. Long end still outperforming but continued buying in 2s-3s from domestic real$ and central banks, not to mention the +15k block buys in 5s, has short end back to steady. Latest curve levels shows broad range of moves after 5s30s nearly dipped below 71.0 for first time since March 2020.

  • 3M10Y -1.302, 150.864 (L: 149.377 / H: 156.474)
  • 2Y10Y -2.146, 106.543 (L: 104.374 / H: 110.546)
  • 2Y30Y -3.224, 145.582 (L: 141.143 / H: 151.102)
  • 5Y30Y -2.956, 76.521 (L: 71.144 / H: 81.21)

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