Swaps - USD
USTs have taken another sharp leg down on trade optimism. Fed announces T-Bill buyback program. BAML looks as FHLB LIBOR phase out.
Treasuries are grinding back toward the lows of the day into the close and sources see the price action more slippery with levels faltering easily.
Trade optimism has bolstered the risk tone once again. Accordingly, USTs remain under heavy bear steepening pressure for the second consecutive day.
Italian dollar supply weighed on the market, while high valuations made for toppy sentiment
Treasuries saw little movement after the FOMC minutes this afternoon, although the steepening of the curve gave back a large portion of earlier gains.
Treasuries are bear steepening amid an improved risk tone. Swap spreads are mixed ahead of more swapped issuance. BNP Paribas' updated Fed call.
The UST curve sharply shifted to bull steepening after Powell said that the Fed is contemplating buying T-bills in a non-QE balance sheet expansion
Trade tensions have sent equities down and USTs bull flattening. Swap spreads are tighter ahead of plenty of swapped issuance. BAML looks at funding
The UST curve is lower and steeper while spreads are tighter as deals keep arriving. In research, JPMorgan finds that Formosas are getting longer.
Treasuries have seen a grinding drop lower today, led by the front end, while swap spreads compensated, with a fairly robust steepening move.