Curvature

November 26th, 2013 2:47 pm | by John Jansen |

The 5 year/10 year spread has resteepened and is just about flat on the day after being about 1 basis point narrower. Similarly, the 5s 30s spread which was about a basis point narrower is a tad wider on the day at 248.5. The 5s 10s 30s fly traded inside of 29 earlier and is now cheaper on the day at 30.3. So a powerful move for 5s post the auction. On this one the dealer community shot the taxpayers in the metaphorical big toe.

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