This is a nice 3 bps stop through, which should help today’s momentum in the bond market. It’s a quirky spot in the curve and a smaller auction size. Those things hint that oversupply is a problem at other tenors but it could just be the broad strength in fixed income today as oil prices fall.
- Bid to cover 2.82 vs 2.79 prior
This article was written by Adam Button at www.forexlive.com.
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