Yes sir!
Because nothing says “Trumpflation onward and upward” like the 2s10s at its flattest since October…
Here’s Bloomberg:
- USTs Bull Flatten; Front-end Lag Pushes Curves Through YTD Lows
- Treasuries broadly maintain post-jobs report gains as 5Y-30Y yields lower by 3bp-4bp on the session; front-end of the curve underperforms, sees 2s10s at flattest levels since October and 2s5s flattest since November.
- 2s10s tighter by 2.8bp and 2s5s by 2.4bp as front-end gains behind rest of the curve reflect little movement in the Fed policy path over near-term horizon; June hike odds remain close to 90% according to Fed dated OIS; further out into 2018, odds of rate hikes also little changed
