Actually it's spread curve, and those spreads are trading. So these are real numbers. Normally this time of the year second ZF spread is lower than its neighbors but not so low. Last time this part of the curve was similar to what we have now was 9 years ago. Just wondering what could be the cause, are there some fundamentals or its just big player squeezing ... smaller ones (like he just did on the front part of the curve couple days ago).
