US rates review

Westpac Research notes:

US 10yr treasury yields fell from 2.25% to 2.19% while the 2yr yield fell from 0.59% to 0.57%, flattening the curve. Most of the declines occurred after the US data among which seven of the eight releases disappointed. A 10yr inflation-linked treasury auction performed poorly, awarded at 1bp above market real yield at 0.35%. Fed Vice Chair Fischer spoke in Portugal but stuck to Eurozone issues.