Treasury yields fell across the curve as prices opened higher at the pit open. Flight to quality buying was evident as uncertainty regarding the US fiscal cliff and an almost never ending Greek merry-go-round drove sentiment. The belly out to the long end benefited more due to the upcoming supply this week in the 2, 5 & 7y note auctions. The highs of the day coincided with the Fed coupon purchase as traders noted that there are no sell operations scheduled this week. As US equity markets, particularly the Nasdaq, moved off the lower levels treasuries came off highs but still finished the session with decent gains. At the pit close t-notes finished at 133.17+, up 7+ ticks.
26 Nov 2012 - 15:02 - - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: