News Headline Summary
T-notes continue to trade around session lows with mild disappointment that the Fed will be buying slightly fewer long-dated treasuries, with purchases having an average duration of 9 years and concentrated in 7-10years as well as 20-30years
Analysis details (18:28)
- Longer dated treasuries are under-performing the rest of the curve, with the 30yr yield higher by 5.2bps, 10yr by 4.2bps and 3yr up just 0.6bps.
- As a recap the FOMC changed the maturity ranges they will buy in from 6-30yrs to 4-30yrs, and therefore spreading the same value of purchases over a wider range.
12 Dec 2012 - 18:23
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