UST 5yr-10yr Flattener Trade Before QE2
Putting on a 5-10 yr curve flattening position in cash (cheaper to do in futures, FYI) bet 138 and 139 bps target 110 bps 8/26 level. If QE2 is low, trade should work, if priced in, trade might work. My stop is 145 bps steep. FYI.