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COPPER TECHS

(U1) Needle Still Points North

US TSY FUTURES

BLOCK, 5Y Sale

MEXICO

Q2 GDP Slightly Below Estimates

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Fresh session highs last few minutes, heavy volumes (TYU1>1.2M), yield curves bull flattening. TYU high of 134-25.5 well through bull-channel top of 134-03 and 200% fibonacci projection (134-24.5). 10YY falls to 1.739% low last seen on Feb 12.
  • Flow includes ongoing real$, foreign and domestic bank buying in 5s-30s, stops triggered on latest move. Fast$ unwinding tactical shorts.