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Treasuries Pushing Higher
11/16/2009
Treasuries have been pushing higher with the market having ridden over the data speed bumps, that were OK, while getting some aid as global bondsaim higher. The market is looking out to Fed-head Bernanke's mid-day speech for any clues on what will happen with "exit strategies" and what the policy-posse sees in its economic crystal ball. The lead up to the talk has seen some quiet bidding with the long end holding the lead to the upside. The curve has been pushed somewhat flatter with the 2-10-yr yield spread near 256, near the narrowest since the start of the month and likely taking a crack at the 251.5 area. The buck remains lower, but has seen a bump in short coverage pre-Bernanke.
