T-notes finished marginally higher on the session in what has been a quiet and choppy session once again today. There was earlier fast money selling seen in the belly, and most recent upside in 10s attributed to short covering although in small size. There is a short-end NY Fed sale operation tomorrow of between USD 7-8bln, which will see focus on the 2s & 3s, but again tomorrow there will be little data to digest in early trade. Commentary from Moody's did little to give firm direction in both fixed income and equities, despite the rating agency noting that they are unlikely to wait beyond 2013 to resolve negative outlook and they need a convincing long-term deal to stabilize the US rating. At the pit close t-notes finished at 134.01+, up 5 ticks.
13 Nov 2012 - 21:00 - - Source: RANsquawk
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