| 2018-10-12 10:25:01|
10:25 10/12 10/12/18
Treasury Action: yields rebounded from lows
Treasury Action: yields rebounded from lows with stocks opening higher and consolidating gains, though U. Michigan sentiment came in slightly below expectations. The 2-year yield is consolidating in the 2.86% area vs 2.875% earlier, slightly above lows; the 5-year yield bounced from 3.01% lows after easing from 3.035% in Asia; the 10-year yield found traction above 3.155% lows after slipping from 3.184%; and the 30-year yield based near 3.325% after sliding from 3.356%. Yields are still 1.7-3.2 basis points higher along the curve, paced higher by the long-end, relative to the big stock market rebound. The 2s-10s spread is near +30.6 bp, over a bp steeper.