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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: Haim R. Branisteanu2/10/2010 2:03:02 PM
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US TSYS/10Y: Tsys slide further amid setup selling for US$16B 30Y bond auction Thurs after tepid 10Y sale, and finally the market stalls out at the lows after big afternoon swoop lower. There had been earlier selling in 30Y bonds, plus leveraged selling in 10Ys.

Tsys traders appear to be doing pre-30-yr setup selling in a compressed manner as they head out the door early amid NY snowstorm.

One little sliver of 30Y auction hope: Asian bid had been said to possibly arise if 10/30Y moved so 30Y cheapened up enough so the spread was around +95 to +100 bps; well it's almost there as is at +94.40 bps.

Provided by: Market News International
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