2nd May 2018 - Positioning Weekly: Who was selling Treasuries in the 2H of April?

While the 20bp rise in the UST10Y yield in the 2H of April was likely initially catalyzed by concerns around European debt supply and rising oil prices, the velocity and magnitude of the surge still begs the question: who was the big marginal seller throughout the five-day move? By default, the first suspects anytime we see a sudden shift in UST yields are...

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