Treasury yields fell again despite slightly more optimistic commentary regarding the fiscal cliff as money continued to flow to the safer haven of US debt into month end. The 10y yield traded in close proximity to the 1.600% level throughout the session and prices were supported by two treasury purchase operations totalling USD 6.4bln. Also, the strong 5y note auction spurred further buying as the yield stopped though the WI by almost 1BPS. The recovery in US stock markets did little to dent the appetite for t-notes as little concrete action is yet to materialise from the fiscal cliff negotiations. At the pit close t-notes finished at 134.00, up 9 ticks.
28 Nov 2012 - 20:01 - - Source: RANsquawk
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