⚖️🔺U.S. 2-Year Yields Advance 30Bps On The Day, 10-Year Up 24Bps

• The U.S. sovereign curve bear flattened with the 2-year rate advancing as much as 30bps on the day, the 10-year rate increased by 24bps. The curve saw a glimpse of inversion with 2s10s off session lows at 4.7bps, 5s10s and 5s30s fell to -11.5bps and -12.5bps, respectively

• The daily change shows significant moves across global bonds; Mexico 10-year +31.5bps, Brazil +33.0bps. The U.S. 10-year reached 3.44%, almost a one-standard deviation move on the day, and leaves the rate 2.3 std deviations off its 3-month average. The 2-year rate is now 3.3 standard deviations from its 3-month average