This is a nice 3 basis point stop-through, which should contribute to the current momentum in the bond market. This is a quirky spot on the curve and a smaller bid size. This evidence suggests that oversupply is a problem on other levels, but that could simply be due to the general strength in fixed income today as oil prices fall.
- Bid to cover 2.82 versus 2.79 previously
This article was written by Adam Button at www.forexlive.com.
cnbctv18-forexlive
