Morning Miscellany

February 28th, 2014 10:04 am | by John Jansen |

Treasury curve continues flattening trend. I suppose this is the last gasp of the month end extension trade which is so well advertised that there cant be much left in it. I would look to buy 5s vs 30s as the next iteration of supply from Jack Lew and his minions is long end paper. I have only heard of minimal flows in Tresaury land in early going.

Mortgages are one tick to two tickers tighter to Treasuries amidst modest buying of that product.

Chicago PMI better than expected and showed big jump in employment component.

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