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20yr and 5yr roll push below the November low.

US TSY FUTURES
  • US spreads are seeing decent size flows since the US joined the European session.
  • Direction has been to the downside.
  • Although TYZ2/H3 has been more stable and even pushed higher yesterday, the spread drifts back towards last week's low.
  • The 2yr TUZ2/H3 has a similar move to the 10yr.
  • While USZ2/H3 is now below the November traded low.
  • And similar in the 5yr FVZ2/H3, also through the November low.

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