For the last 9 days in a row, no matter what is occurring in the markets, US Treasuries have begun to sell-off at 1330ET... Some have suggested this points to funding issues being a driver of recent weakness [2], with the USD up by the most in 2 days since oct 2011, we shall see if the need to sell down USTs is there for the 10th day in a row...
9 out of 9...
[3]
[4]
As Alhambra's Jeffrey Snider noted previously, [2]
Repetition is indicative of systemic factor(s) rather than some kind of random variation (or a minor factor indistinguishable from a random variation). I still think that funding issues are the central case here, and that continued pressure there, whatever the “dollar” is doing, is making UST trading that much more uneven.
Charts: Bloomberg
