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Yield Curves Reverse, Post-20Y Re-Open Bounce

US TSY FUTURES

Bonds continue to bounce off session lows amid moderate hedge unwind volumes after the 20Y Bond performed better than expected (1.942% high yield vs. 1.964% WI). Volumes rather muted (TYH2 added appr 70k since the sale to 770k total) -- not unusual for holiday market participation. 30YY currently 1.8853% vs. 1.9246% high; 10YY currently 1.4737% vs. 1.4960^% high.
Yield curves now mixed as longer spds come off steeper levels, 5s30s had breached 70.0 now back near 65.5 Latest:

  • 3M10Y +3.682, 140.607 (L: 133.457 / H: 143.004)
  • 2Y10Y +1.065, 79.737 (L: 78.044 / H: 81.964)
  • 2Y30Y -0.736, 120.997 (L: 120.154 / H: 125.447)
  • 5Y30Y -2.681, 65.587 (L: 65.518 / H: 70.656)

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