EmailBond Market Update
The market at 15:42 ET
| 10-Year: +15/32....2.013%.... GNMAs: .... USD/JPY: 80.28.... EUR/USD: 1.3246 |
Moving the Market
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MBA Mortgage Index: Actual -4.5%, prior -1.0% Existing Home Sales: Actual 4.57M, consensus 4.63M, prior 4.61M (revised 4.38M) Treasury auctions $35B 5-yr notes, draws 0.900% |
Treasuries See Strong Gains, Close Near Highs
22-Feb-12 15:42 ET
10-Yr: +15/32..2.013%..
USD/JPY: 80.28..
EUR/USD: 1.3246
Strong Gains: Treasuries ended the day just off their best levels of the session as the 30-yr lead the advance with a gain of 1 07/32 that lifted it to 99 17/32. Aggressive buying across the complex dropped yields as much as 6 bps as the 30-yr slid to 3.149% and the 10-yr eased to 2.005%. Today’s $35 bln 5-yr note auction was rather uneventful as it drew a yield of 0.900%, and saw an average 2.89x bid/cover as indirect bidders took down 41.8% of the offering. The 5-yr finished the day just off its best levels of the session, adding 07/32 to close at 100 01/32. Flattening took hold along the yield curve as the 2-10-yr spread tightened to 171 bps. Meanwhile, precious metals ended mixed with gold up $21 at $$1780 and silver off $0.05 near $34.35. Thursday’s data includes initial and continuing claims (8:30), and the FHFA Housing Price Index (10). Treasury will auction $29 bln 7-yr notes.
