27 Feb – 03 Mar 2017

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Bond yields went higher and by more as one goes out along the curve. The 3 year / 10 year spread widened by 2bps to 79bps while the 3 year / 20 year spread widened by 1bp to 139bps. There is a general belief the front end is anchored and so any change to the yield curves gradient will be driven by movements at the long end.

weekly yield1

weekly yield2