News Headline Summary

US FIXED INCOME WRAP:

US Treasuries erased recent losses benefiting from weakness in equities and a stronger JPY which prompted short covering. There was notable steepening in the curve as 2s/30s widened over 4bps with analysts at IFR noting interest from real money accounts in the long end of the curve. T-notes retreated from their session highs as participants awaited today’s USD 24bln 10y note auction. The auction was relatively lack-lustre despite the yield coming above the market price, buy side demand was below the previous. Nevertheless, the bid to cover ratio was lower than the 5 auction average and the previous.

07 Aug 2013 - 15:02 - Fixed Income - Source: RANsquawk

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