Dog Days! US Yield Curve Flattens

This is a syndicated repost courtesy of Online Course Notes For Financial Markets and Banking. To view original, click here. Reposted with permission.

Unlike the recent Treasury auctions, today’s $26 billion 10-year Note auction went off without a hitch at a slightly higher high yield rate of 2.960%.


After the auction, the Treasury 10y-2y slope flattened to below 30 bps where it has been hanging around since the end of June.


Yes, it is the “dog days” of summer and the Treasury market is no exception.


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