Treasury Action: core EGB rates are slipping again and are helping pull Treasury yields lower
Treasury Action: core EGB rates are slipping again and are helping pull Treasury yields lower, even as equities stabilize and the weight of huge Treasury supply looms. The wi 2- and 5-year notes are 1 bp richer at 2.285% and 2.240%, respectively, with the wi 7-year 0.5 bps lower at 2.335%. The 10-year is unchanged at 2.439%, with the bond up 1 bp at 2.884%. Yield curves are a little steeper on the front end outperformance, unwinding some of the dreaded curve narrowing from last week. The Bund has drifted down 0.1 bo to -0.018%, just off overnight lows, and versus a high of -0.0003%. It will be a tug-of-war for Treasuries this week between ongoing safe haven demands and Treasury supply with $113 B in coupons for sale.