Morning Update

May 30th, 2008 9:30 am | by John Jansen |

Benchmark Treasury debt is in the throes of a nice little rally this morning and has erased much of yesterday’s sell off.The economic data which we have received this morning has not deviated dramatically from expectations and is not the motivation for the buying. I think the driving force behind the rally is the month end extension and nothing else.

I have heard of some buyers of the 5 year sector versus 2s and 10s. I have also heard of a decent size roll from double old 5s into the new issue.

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  1. One Response to “Morning Update”

  2. By Adan Lerma on May 30, 2008 | Reply

    john, can you say a little more about what month end extension is / means ?

    thanks!

    ps – still working my way through the positive carry primer 🙂

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