The spread between the U.S. 30Y yield and the 5Y yield is testing its 50-day moving average on Tuesday session. 5s30s is below the 150bps level seen earlier in the week, which coincides with the 50-DMA. This is as the 30Y yield is off the highs seen on Monday while the 5Y continues to rise shy of 0.90%. The 50-day moving average has been tested and rejected twice since February.
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