Treasuries Add to Gains
Action Economics: Treasury yields continue to roll downhill as the bounce in jobless claims will do little to cure the dark mood hanging over the equity market. The 10-year yield is down 8 basis points from overnight highs and testing the 3.55% level. The 2s-10s spread continues to narrow to the +207 bp, despite the preponderance of supply expected to be confirmed later on 2s, 5s and TIPs.
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