Treasury Update

April 30th, 2014 3:32 pm | by John Jansen |

I was out stimulating the local economy at 200PM so I was not here for Fed announcement. I gather it was a boilerplate non event and month end flows dominated trading until 300PM. One dealer note huge buying of 5 year notes today by domestic end users and late in the day fast money has had the temerity to fade the move.

The curve is slightly steeper than it was around an hour prior to FOMC time. The 5s 10s is 0.3 steeper at 97; 5s 30s is 0.8 steeper at 178 ; and 10s 30s is 0.5 steeper at 81. The belly flys (5s 7s 10s and 5s 10s 30s ) are each about 0.2 richer than before the FOMC.

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