US GOVTS WRAP - Rally reverses at 1.918% 30s, back to strength selling for supply
By Duncan Balsbaugh
Feb 9 (IFR)
* Oversold Rally Reverses After 30s Touch 1.918%
* 3s Sale Strong, Cautiously Optimistic For 10s/30s
* Trading Bias Back To Strength Seller For Supply
* Wednesday CPI, WI, TB, Powell, $41 Bn 10s Sale
The rally from oversold and over-steep conditions continued in Tuesday’s treasuries trade. By 10:00 ET 30s touched 1.918% and the 5s/30s yield curve spread staked 144.6 bps tights. However from there, shorts commenced concession s...