02:35 PM EDT, 10/16/2024 (MT Newswires) -- Valuation Considerations: At time of writing, CIBC noted, the Jun34s/Dec34s was trading at +2.6bps (mid), which is "quite cheap" to average fair value at +1.9bps. Indeed, the bank said, the choice of reference curve matters, as the exclusion of 10s30s produces an average fair value of +2.4bps. However, CIBC added, given that benchmark premia has already begun to develop, it believes the current 10yr roll and CTD/10s were "most appropriate for valuation purposes, which supports the overall message that the roll is now cheap".

Price: 85.71, Change: +0.96, Percent Change: +1.13