POV: ### The Treasuries curves are quiet....>

US TSYS: POV: ### The Treasuries curves are quiet Fri but it's likely recent Tsy

curve flattener still has room to run. Tsy said it will favor increasing debt

issuance in front end/bills once it normalizes auction issuance, after the debt

ceiling situation solved. (Debt ceiling temporary lift expires Dec.8.) 

- Also there likely will be good month-end buying out the curve as

Bloomberg/Barclays month-end duration index has a large 0.11 yrs estimated index

extension into month end, Thursday, Nov. 30th (next week.) 

- Meanwhile Tsy next wk will be selling 2/5/7Y auctions, thus curve would tend

to flatten amid weighty issuance Mon and Tues. And there are corp. tax reasons

to buy long bonds to fund pensions in 2017 vs 2018 (less tax writeoff next yr.) 

- The 5/30Y Tsy curve flattened mildly to +69.20 bps Fri 12:44pm ET vs +69.5 3pm

ET Wed. The 2/30Y curve flattened to +100.9 bps vs. +101.7 bps at 3pm ET Wed,

+98.7 Tues, +103.2 Mon. 

- JPM noted "stripping activity" in 2018 shd "continue to increase." They added

C/P (comml paper) sprds "shd widen as Ps (Principal-Only STRIPS) outperform

whole bonds amid curve flattening."