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Treasury Prices Edge Into Positive Territory
09/29/2011
Treasury prices were mostly unchanged this morning as yesterday’s indecision seems to be carrying over into today’s session. Prices spent yesterday morning in negative territory until a solid 5-yr auction brought some relief and treasury prices actually edged into positive territory. U.S. and European policy decisions continue to rule markets as economic data is overshadowed by these political moves. Surprisingly, today’s economic calendar actually produced better than expected results this morning. The final Q2 GDP report posted an increase of +1.3%, exceeding consensus estimates of a +1.2% increase. Meanwhile, the initial and continuing jobless claims reports both declined week over week. Currently, the 10yr yield is at 1.997% (1.990% Tuesday) and the 2-10 yield spread is at 173 bps, flatter by 2 bps since yesterday morning.
