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TREASURIES-U.S. bond yields little changed before 5-year supply, Fed minutes
May 24, 2017 / 2:02 PM / 5 months ago

TREASURIES-U.S. bond yields little changed before 5-year supply, Fed minutes

 (Updates market action, adds quote)
    By Richard Leong
    NEW YORK, May 24 (Reuters) - U.S. Treasury yields held
steady on Wednesday, underpinned by demand for low-risk assets
in the wake of Moody's downgrade of China and the deadly suicide
bombing in the English city of Manchester.

    Investors were cautious ahead of a $34 billion sale of a new
five-year Treasury notes at 1 p.m. EDT (1700
GMT), followed by the Federal Reserve's release of its minutes
from its May 2-3 policy meeting at 2 p.m., analysts and traders
said.
    The bond market has remained in a tight range as traders
have little conviction about the direction of yields. 
    "It's not like there is nothing going on," Kevin Giddis,
head of fixed income capital markets with Raymond James, wrote
in a note. "There are some pretty big things happening around
the world right now, but the markets seem to be looking away
from them."
    The benchmark 10-year Treasury's yield was last
at 2.283 percent, flat from late on Tuesday, while the 30-year's
 was marginally lower at 2.939 percent, Reuters data
showed.
    May 24 Wednesday 9:46AM New York/1346 GMT
                               Price                  
 US T BONDS JUN7               153-12/32    0-3/32    
 10YR TNotes JUN7              125-224/256  0-4/256   
                               Price        Current   Net
                                            Yield %   Change
                                                      (bps)
 Three-month bills             0.915        0.9299    -0.007
 Six-month bills               1.05         1.0703    -0.008
 Two-year note                 99-220/256   1.3215    0.002
 Three-year note               100-8/256    1.4891    0.000
 Five-year note                100-52/256   1.8316    0.002
 Seven-year note               99-100/256   2.0948    0.000
 10-year note                  100-208/256  2.2834    0.000
 30-year bond                  101-60/256   2.9377    -0.007
                                                      
   DOLLAR SWAP SPREADS                                
                               Last (bps)   Net       
                                            Change    
                                            (bps)     
 U.S. 2-year dollar swap        22.50        -1.00    
 spread                                               
 U.S. 3-year dollar swap        20.00         0.25    
 spread                                               
 U.S. 5-year dollar swap         6.75         0.00    
 spread                                               
 U.S. 10-year dollar swap       -5.75         0.50    
 spread                                               
 U.S. 30-year dollar swap      -43.75         1.75    
 spread                                               
 
    
    

    
 (Reporting by Richard Leong; Editing by Lisa Von Ahn)
  
 

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