Overnight Flows

May 30th, 2014 6:57 am | by John Jansen |

Via CRT Capital:

OVERNIGHT FLOWS:  Treasuries are pretty much unchanged from late closing levels though 3s and 5s are a bit weaker giving a slightly flatter curve.  There was official selling in 3s out of Asia, light buying in 10s, and not too much on the month-end extension front.  Some real money selling in 3s-5s as well…profit taking, stop loss selling?  The yen is better after firm inflation figures reduce the call for more easing, but other data like IP was soft.  Also hearing of deceleration in Korea’s IP.

Volumes were firm with TY at 106% of the recent, high, average and cash better at 137%.  5s were the busiest issue with 34% market share while 10s were quiet with just 25%.  The ‘gap’ in 10s, volume wise, was filled with more activity in 2s, 3s and 7s that usual.

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