Supply. Supply. Supply: Even as the 3-yrs were well absorbed, there remains much global supply on tap, helping to crowd prices ahead of the long dated offerings hitting over the next 2 days. The market isn't getting any help as stocks manage to pull higher with the S&P aiming for the mid-Jan highs, which could set things up for Oct 08 levels. The curve has been flirting with the steepest levels since late Feb with the 2-10-yr yield spread now 283.1