| 2016-10-05 10:20:02|
10:20 10/05 10/05/16
Treasury Action: yields jerked to session highs
Treasury Action: yields jerked to session highs after a surge in ISM services and most of its sub-components were accompanied by an uptick in factory orders and earlier an upward revision on final Market services PMI as well. The 2-year yield cleared 0.845% from 0.825%; the 5-year yield hit a high near 1.26%, gapping from 1.23%; the benchmark 10-year probed 1.72% from 1.69%; and the long bond tested 2.44% from 2.42%. Yields are 2-3 bp higher along the curve now, paced by the belly. The 2s-10s spread is near +86 bp, while the 5s-30s is near +117 bp.