Is that typically done as a 2:1? So sell 2 ZN and buy 1 ZB? I'll check that out. I've briefly looked into the yield curve spreads, but haven't spent much time on them for bonds.
3:1 usually. The CME website has all the ratios for the various interest rate spreads to make them duration neutral, not vol neutral.
Mav is correct, current ratio is 3x1 for the NOB: http://www.cmegroup.com/trading/interest-rates/intercommodity-spread.html
http://intelligence.house.gov/sites/intelligence.house.gov/files/documents/declasspart4.pdf Off topic, but the 28 blacked-out pages of the 9/11 Commission Report have finally been declassified. Summary: Saudi Arabia played a major in the attacks. I would assume were are seeing this report finally declassified 13 years later because we no longer need Saudi oil due to massive increases in our domestic drilling. Shame they didn't release this 5 years ago...oil would've likely made a good A up and trended all day!
Breaking: Turkey just declared marshall law. Possible military coup taking place. Gold just popped $7, on the news. Islam is a 24/7 news cycle now. Update 4:34pm: TURKISH STATE NEWS AGENCY SAYS EXPLOSION BEING REPORTED AT POLICE SPECIAL OPS HQ IN ANKARA. Update 5:00pm: Run on Turkish banks