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Bond Expert: Tuesday Wrap
Posted on May 14, 2008
Prices of Treasury coupon securities tumbled sharply today against a backdrop of negative economic news, negative Fedspeak, and a surfeit of corporate bond supply. Additionally, there was a Bloomberg story which noted that the British Bankers Association was considering the method by which Libor is set and traders came to the conclusion that as a consequence of new methodology, short rates would rise. The yield on the benchmark 2 year note has jumped by 16 basis points and sits at 2.46 percent. The yield on the 5 year note also jumped 14 basis points and it landed at 3.15 percent. The yield in...
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