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10Y yellen

Treasury Bond Shorts Crushed As Yields Plunge

Told you so...

Remember what we said earlier? To wit, from “A Fed Hike Will Send Treasury Yields Higher Right? Not So Fast” posted just hours ago:

And my, oh my – if that happens and all of the shorts in the belly of the curve have to cover, it would be quite the spectacle. 

Belly

Well, “we told you so”…

  • TREASURIES SURGE AS FED MAINTAINS HIKE FORECASTS FOR 2017, 2018
  • Treasuries advanced to session highs after FOMC median dot projections were left unchanged for 2017 and 2018 while median target for 2019 rose to 3% vs 2.875% in December.
  • Treasury futures rally with 10Y higher by around 16 ticks following decision; 5s30s sharply steepens by ~5bp from near flattest levels since 2008

Yields

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