31 Aug – 04 Sep 2015


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The yield curve paused its steepening trend last week, flattening by 2bps as 3y rates dropped 8 bps and 10y rates dropped by 10bps. The 3y/10y spread finished the week at 92bps, still some way from the peak of 104bps recorded in early July and substantially away from the 47bps low of February.