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Steepener Move Accelerates


Strong short end bid last few minutes following tweet from WSJ's Nick Timiaros:

Some officials are more eager to calibrate their rate setting to reduce the risk of overtightening. But they won’t want to dramatically loosen financial conditions if and when they hike by 50 bps (instead of 75). This meeting could allow officials to get aligned on next steps."
Short end goes well bid while bonds continue to underperform, Latest curve

  • 3M10Y +6.116, 28.082 (L: 18.893 / H: 32.639)
  • 2Y10Y +12.746, -25.855 (L: -38.595 / H: -25.427)
  • 2Y30Y +19.855, -19.663 (L: -38.983 / H: -18.837)
  • 5Y30Y +16.213, -6.689 (L: -22.582 / H: -5.921)

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