[private role=’subscriber’]
The yield curve for government bonds flattened as 3y rates fell 3bps while 10y rates fell 8bps. The 3y/10y spread finished the week at 85bps, down from 91bps. Lower prospects for growth were the driver. The spread has averaged 89bps this month, with a low of 83bps and a peak of 94bps.
[/private]
