30 Year Auction
I mentioned the yield curve this morning, specifically the spread between 2s/10s. Looking at the 5s/30s after the good 30 yr auction just announced has it at just 92 bps. Another 1 bp and it will be at the lowest level since late November 2007. On the day of the Trump tax announcement it stood at 96 bps. The day after the election it got as wide as 137 bps. I’ll say again, If only the yield curve could talk.