Treasuries trended higher thorough US trade as demand for European paper filtered over into US notes and bonds, with unwind of UST steepeners into next week's supply from the Treasury (selling 3/10/30s) also said to have contributed to the move higher in 10s. After breaking below the 2.0% yield mark in the 10yr yesterday, the yield finished just below 1.95% today, however notable outperformance was observed in 7s and 10s. The Fed bought in the longer end today, supporting 30s as today’s POMO targeted the ‘36-’42 maturity, with a touted large seller of Nov’39s. At the pit close T-notes settled at 131.24, up 4+ ticks.
07 Feb 2013 - 15:02 - Fixed Income - Source: RANsquawk
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