The Treasury yield curve has flattened overnight. The 5s 30s spread has narrowed to 138 from 139.3 at about 800PM last evening. I believe that is a new cycle low for that spread. The 5s 10s spread narrowed to 67.5 from 68.3 and 10s 30s narrowed to 70.5 from 71.
Dealers have reported a quiet post Thanksgiving trade with the only notable flow Japanese asset managers buying the 7 year through 10 year sector of the US curve.