NY Fed reverse repo usage recedes to $2,218.458B w/ 100 counterparties vs. the prior session's $2,.233.956B. Compares to Friday, Dec 30 record/year-end high of $2,553.716B (prior record high was $2,425.910B on Friday, September 30.
NY Federal Reserve/MNI
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US Tsy $43B 5Y-Note auction (91282CGP0) at the top of the hour, WI currently running around 4.112%, 58.2bp cheap to last month's stop.
Tsys trading firmer at midday, bonds off the lowest level since mid-November tapped overnight (USH3 123-30) currently 124-20. Tsys bounced after early StL Fed Bullard interview on CNBC siphoned some hawkish positioning out of markets ahead of the Feb FOMC minutes release at 1400ET.
UK and German cash yields pulled back from session highs to finish mostly lower Wednesday. Bunds outperformed, with modest bull steepening in the curve; UK yields closed mixed.
Closing Yields / 10-Yr Periphery EGB Spreads To Germany