Asset Managers Flip To Net Short on Treasuries As UST 10Y-2Y Curve Slope Falls Below 80 BPS

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Asset managers have flipped to net short on 10-year Treasury futures for the first time since November, according to CFTC data. The group reduced long positions the past three weeks after 10-year yields approached the 2 percent level in the lead-up to the September FOMC meeting. Even with the liquidation, yields have risen less than a quarter-point from year-to-date lows reached Sept. 8, suggesting the bull-market trend may still be intact.

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The US Treasury 10Y-2Y curve slope has just fallen below 80 basis points.

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