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Bond Sell-Off Extends, Short End Rout Slows

US TSY FUTURES
BulletMarketsFixed Income NewsHomepage
Post-data sell-off continues, Tsy 30Y Bonds extend lows (123-28, -1-11) as mkt mulls ISMs, particularly jump in prices paid to 51.3 from 44.5 prior (46.5 est).
  • Yield curves bear steepening (2s10s +2.426 at -87.777 vs. -91.199 low) as 2s draw some technical buying after TUM3 hit 101-21.12 low (101-22.38 last), 2YY hit 4.8931% (+.0773) highest since May 2007.
  • STIR: Fed funds implied hikes off earlier highs: Mar'23 31.2bp vs. 31.9bp high, May'23 cumulative 57.2bp vs. 58.5bp (+2.4) to 5.148%, Jun'23 76.1bp vs. 76.9bp (+2.4) to 5.337%, terminal at 5.455% in Oct'23 vs. 5.50% earlier high.
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Post-data sell-off continues, Tsy 30Y Bonds extend lows (123-28, -1-11) as mkt mulls ISMs, particularly jump in prices paid to 51.3 from 44.5 prior (46.5 est).
  • Yield curves bear steepening (2s10s +2.426 at -87.777 vs. -91.199 low) as 2s draw some technical buying after TUM3 hit 101-21.12 low (101-22.38 last), 2YY hit 4.8931% (+.0773) highest since May 2007.
  • STIR: Fed funds implied hikes off earlier highs: Mar'23 31.2bp vs. 31.9bp high, May'23 cumulative 57.2bp vs. 58.5bp (+2.4) to 5.148%, Jun'23 76.1bp vs. 76.9bp (+2.4) to 5.337%, terminal at 5.455% in Oct'23 vs. 5.50% earlier high.