Treasuries finished lower on the day, with T-notes closing near the lowest levels of the day despite no progress made on fiscal cliff negotiations in congress. Further downside was limited by fast money covering in shorts and dip buying by domestic accounts. 10s bucked the trend seen in other assets, with equities paring a majority of the move following non-farms, and the USD seeing similar price action whereas the 10yr finished at the same level hit in reaction to the jobs report. 10s have been more resilient to price swings following commentary on the fiscal cliff by numerous congressional leaders, evident in this week’s trade with t-notes settled near to Monday’s opening price. Today T-notes settled at 133.18+, down 9+ ticks.
Print 20:03, 07 Dec 2012 - Fixed Income - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: