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Reflation Position Unwinds Day 2

US TSYS
Pause in action: trading desks reporting buy stops and forces steepener unwinds as Bonds continued to charge higher ahead midday -- moderate retrace as unwind need evaporates for moment.
  • Tsy 30YY fell to 2.002% low -- mid-Feb level before bouncing to 2.0387% -.0540bp.
  • Tsy 10YY fell to 1.4364% low -- still off last Fri's low around 1.4266%
Yield curves little off recent lows:
  • 3M10Y -3.477, 143.121 (L: 139.581 / H: 148.209)
  • 2Y10Y -8.31, 120.758 (L: 118.801 / H: 130.561)
  • 2Y30Y -9.82, 178.122 (L: 175.332 / H: 189.584)
  • 5Y30Y -7.194, 113.897 (L: 110.568 / H: 122.704)

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