Remember the post-tax-reform, pre-Christmas spike in yields and the yield curve? Yeah, that's all over now!!!!
Treasury yields are down 4 days in a row with a major collapse occurring today as the long-end plunges over 8bps - the most in 3 months. The 2s30s yield curve is down over 8bps - the biggest-single-day flattening since Brexit (June 2016). ..
This is the biggest 4-day drop in 30Y yields since February.
Notably 10Y yields dropped back below 2.4% (YTD unch)...
The yield curve is crashing...
The biggest 1 day flattenig since Brexit...
All of which is fascinating given that net spec positioning is near record long the long-end...
