Dealers and speculative accounts already began unwinding weekend event risk trades, but lower prices then intensified the selling pressure. Large curve flattening bets were also entered, with a good chunk of the contraction a function of weekend steepeners coming undone.
Markets & Finance
Treasury Prices Finish Lower
Treasuries ended sharply lower in price Monday, trending lower all session. They caught a bid ahead of the open, but prices declined quickly following stronger than expected personal income and spending data (which sparked inflation concerns) and stayed pressured on further oil weakness.