News Headline Summary


Despite initial weakness, treasuries recovered off lows with dip buying and finished relatively flat on the day. The downward trend in early trade was large attributable to short covering and dealers preparing for refunding concession. Supply of 3s, 10s and 30s next week continues to weigh on prices although the belly underperformed today and 2/5s steeper by 0.7bps at the pit close. The yield on 10s hit a high at 1.99%, failing to test 2.0% to the upside, and the 30yr yield still elevated at levels from early May as demand for longer dated paper has declined. For the week T-notes finished higher by around 25 ticks, and at the pit close today T-notes settled at 131.23+, up 1+ ticks.

08 Feb 2013 - 20:04 - Fixed Income - Source: RANsquawk

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