Treasuries are set to buck the trend in January after recording monthly gains since November. The U.S. 10-year yield fell by 60bps in November and 45bps in December, this month sees a marginal rise at 7.9bps
Rates were offered on the month, however, yields give up their best levels as the last trading session as it sees bids across the Treasury curve. The rebound pushed the 10-year to drop below 4.0%
Curve spreads saw steepening on the month, the 2s10s is now at -26.1bps while the 2s30s is slightly inverted
In FX, USD/JPY will close its best month since February, up 529p
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