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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (8956)	1/1/2006 5:03:27 PM
From: TFF	Read Replies (2) \| Respond to of 12411

The 10-year yield closed lower than the two-year yield on three of the four trading days last week, in which there was less trading than average with many traders and investors out for the holidays. Inversion was ``the path of least resistance,'' especially with trading desks lightly staffed on the last trading day of the year, David Ging, an interest-rate strategist at primary dealer Credit Suisse First Boston in New York, said yesterday. ``There's nobody here to stop it,'' he said. The amount of Treasuries traded through ICAP Plc, the largest inter-dealer broker, was less than $142 billion each day this week, compared with an average this year of $215.4 billion. Daily trading at ICAP hasn't exceeded $200 billion since Dec. 15.