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Tag: 20s30s Clear

Thursday, September 24, 2026 · 2 notes

23:17 UTC Treasury yield curve

The 20s/30s Inversion Is Nine Sessions Old, Not Three — and It Predates the BOJ

On 23 September we published that the 20-year had closed above the 30-year on each of the last three business days, since the BOJ moved.

The Treasury's own table has it inverted on every session from 14 September to 24 September, widening to 6 basis points. The number survived; the sentence around it did not.

06:16 UTC USDJPY

The Three-Year Moved 51 Basis Points. The Thirty-Year Moved 13.

Since 1 September the US three-year has repriced 51 basis points and the thirty-year 13 — the whole move is in the belly.

The 20s/30s inversion survived a fourth session and widened to 5bp, and Japan's intervention capacity is held in the instrument doing the repricing.

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