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US 2yr Yield Touches New Post-Pandemic High

US TSYS
  • The US Treasury curve trades bear steeper early Monday, with the run-up in yields extending off the FOMC decision last Wednesday. The upside in the front-end puts the 2-yr yield at a new post-pandemic high of 0.2881%.
  • Prelim durable goods orders is the data focus for the Monday session, with markets expecting an uptick in the headline to +0.6% from -0.1% previously. Fedspeak will also be carefully eyed as Fed's Evans, Williams, and Brainard are all due to speak.
  • US Treasury auctions 2- and 5-yr bonds Monday, followed by 7-yr on Tuesday. Analysts note that the 2-yr issuance may be smoothly digested while the 5-yr line could require some concession.
  • The Dec 21 T-Note future is down 7/32 at 131-25+, having traded in a range of 131-23 to 132-05+. The 2-Yr yield is up 1.3bps at 0.282%, 5-Yr yield is up 3.5bps at 0.9814%, 10-Yr yield is up 3.5bps at 1.4854% while the 30-Yr yield is up 2.4bps at 2.0069%.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
HomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
HomepageBond Market Newsmarkets-real-timeBulletMarketsFixed Income Bullets

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