jonathan: vishwanath tirupattur, lisa hornby, and iain stealey.oming up on the program, the auction block. canada taking advantage of its own flattening curve. the tightest since 2008. from new york, this is "bloomberg real yield." ♪ ♪ jonathan: from new york city, this is "bloomberg real yield." i want to head to the auction block. the united states not the on ly one with a flattening yield curve. canada selling for -- $392 million worth through 2064. spain also went long, selling 1.4 billion through 2066. and with better demand for the previous auction. despite the volatility in high yield, weight watchers at his sell in five years. still with me, vishwanath tirupattur. lisa hornby and iain stealey. can we have a conversation about what is happening with high-yield? money coming out of five yield. money going into investment-grade. it was like a flight to quality to some extent. is that what you see? vishwanath: we have been advocating this for some time, the upper quality trade. we see several challenges on the lower end of the spectrum. we thi

vishwanath tirupattur, iain stealey, lisa hornby.t to get you up to speed on the market action this week in treasuries. two's, tens, and 30's. it is a much flatter field curve. up at the front end by six, down at the long end by 10. still ahead on this program, the final spread of the week ahead. chatter from the ecb and the fed. this is "bloomberg real yield." ♪ ♪ jonathan: i'm jonathan ferro. this is "bloomberg real yield." it is time for the final spread. coming up over the next week, it will be a shortened trading week in the united states with the thanksgiving holiday coming up. we will have details of the recent meeting by the federal reserve and the ecb. plus, fed chair janet yellen will be speaking, and the u.k. chancellor of the exchequer philip hammond makes his budget statement and the holiday retail shopping season kicks off in the united states with black friday. still with us, our guests. lisa, i want to wrap things up with you and get your idea of where you think the opportunities are right now. we have seen a little b