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FI Daily

G7 rates · 06 Nov 2026
Built 09 Nov 12:18 UTC · US Treasury close 06 Nov
strip close05 NovCOT T+3 report03 Novcredit close05 Novfactors4/6 live

US 10Y rose +2bp to 4.86%, bearish duration on the session. The 2s10s flattened -3bp to 35bp. ZN leveraged money extended its short at -1.2σ.

  • US 10Y rose +2bp to 4.86% — bearish duration.
  • US 2s10s flattened -3bp at 35bp.
  • ZN leveraged money extended its short at -1.2σ.

The US striplive strip →

The 10Y rose — bearish duration for the session.

US stripYield1dAs of
US 2Y4.510%+5.0bp06 Nov
US 5Y4.590%-10.0bp05 Nov
US 10Y4.860%+2.0bp06 Nov
US 30Y5.250%-3.0bp05 Nov
SOFR3.920%-2.0bp05 Nov
2s10s0.350%-3.0bp06 Nov
10s30s0.410%+3.0bp05 Nov
Change versus the previous print, in basis points. 2s10s is US10 − US2, computed once on the strip — not recomputed here.

Curve relative valuelive curve RV →

US 2s10s flattened -3bp.

10Y spreadLevel
UST − Bund 10Y1.560pp
Gilt − Bund 10Y1.830pp
UST − JGB 10Y2.200pp
10Y Gilt − UST0.320pp
BTP − Bund 10Y0.736pp
OAT − Bund 10Y1.227pp
Levels in percentage points. A spread is omitted when either leg is missing — never filled with zero. Session changes are not shown: the history behind the chart is a multi-year downsample, not a daily series.

Creditlive credit →

US HY OAS widened +16bp.

CreditLevel1d1mz 3yAs of
US IG OAS93bp+2bp+10bp+0.68σ05 Nov
US HY OAS348bp+16bp+45bp+1.42σ05 Nov
CCC − BB decompression1,107bp———05 Nov
NFCI (weekly)-0.459+0.008+0.047+0.17σ30 Oct
Option-adjusted spreads in basis points, change versus the previous print. z is against the series’ own three-year history. A wider spread is risk-off.
Rates against creditLevelLegsOn
CCC − BB decompression1,107bpCCC 1,320bp vs BB 213bp05 Nov
BB − BBB crossover97bpBB 213bp vs BBB 116bp05 Nov
HY OAS against 2s10spairHY OAS 348bp vs 2s10s 38bp05 Nov
IG yield over UST 10Y87bpIG yield 571bp vs UST 10Y 484bp05 Nov
Each signal is computed on the newest date both legs printed; neither leg is carried forward. A pair is shown as two legs because the difference between them is not a traded number.

Treasury positioningTreasury positioning →

ZN is short duration; it extended its short.

ContractNameNetz 52wΔzSideWeek
ZT2Y note-1,450,892+1.02σ-0.26longcovered its long
ZF5Y note-2,315,516+0.52σ-0.46longcovered its long
ZN10Y note-2,262,310-1.18σ-0.24shortextended its short
TNUltra 10Y-258,101+1.03σ+0.00longextended its long
ZBBond-166,257+1.80σ-0.20longcovered its long
UBUltra bond-796,229+0.04σ+0.10longextended its long
FFFed funds239,947+0.88σ-1.55longcovered its long
SR33M SOFR-2,604,199-1.10σ-0.08shortextended its short
CFTC TFF leveraged money, report 03 Nov 2026. Net long a Treasury future is long duration. Side and week are derived from the signed z and Δz — they are not typed.

Duration scorecardduration scorecard →

JP leads the duration composite at +1.54σ.

MarketCompositeFactors
JP+1.544
US+0.746
AU+0.414
UK-0.364
CA-0.954
DE-1.375
Higher composite = bullish duration versus G7 peers. A country with too few live factors is omitted, not scored as zero.
Omitted from this issue
  • curve_IT_10y — makrognosis pair unavailable
  • curve_FR_10y — makrognosis pair unavailable

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US strip, G7 curve RV, Treasury positioning and the duration scorecard. On sessions where the 10-year moves 5 bp or more, the 20-session driver stack and 1 bp cubes. Free.

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