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Short-End Yield Drop Nears Historic Extremes Of 1987 And 2001

US TSYS

2Y Tsy yields briefly dropped just over 50bp on the session (have since bounced 10+bp) - that would have exceeded the September 2008 single-day drops (twice in that month exceeded 40bp), with Sept 13 2001 and Oct 19 1987 ("Black Monday") the last two times we saw a 50+bp drop in the 2Y. See chart:

Source: BBG, MNI

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