⚖️🇺🇸Curve Steepener Retreats On Strong Treasury Bid: Cable FX Macro

• 2s30s curve uninverted on Monday session following the weekend developments, the curve has not seen longer-dated yields surpass the front-end since January

• Positioning for higher yields in the long-end has been popular as the odds of a Trump re-election rise, the 2s30s have rallied nearly 40bps following the June debate

• This morning data failed to see a follow through in steepeners, 2s30s and 5s30s flatten by 5.4bps and 3.7bps, respectively