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Twist Steepening Emerges After Powell Remarks, 2s10s Highs Since Last October

US TSYS
  • 2s continue to rally, now -6bps on the day for a circa 4.5bp rally since Powell’s opening remarks.
  • Whilst not as dramatic as the 8.5bp lift in 2s30s, 2s10s still sits 6bps higher on the day at -24.8bps.
  • It’s pulled back off highs of -23.9bps, which pushed through levels seen shortly after payrolls on Oct 6 to highs since Oct’22.


Source: Bloomberg

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