November 01, 2023 19:06 GMT
Bonds Extending Highs
US TSY FUTURES
- Tsy futures have extended session highs, as Chairman Powell discussed whether every meeting is "live".
- "We are going meeting by meeting, asking ourselves whether we achieved a stance of policy sufficiently restrictive to bring inflation down 2% over time," Powell said. "We are looking at the full range of economic data, including financial conditions and all those things we look at. We have come very far with this rate hiking cycle, very far." Tsy futures extending highs coincided with the latter comment.
- Dec'23 10Y currently trading 106-28.5 (106-30.5 high). 10Y yield at 4.7845% -.1462. Curves remain flatter, 3M10Y -14.063 at -68.530, 2Y10Y -1.911 at -17.991 -- climbing off lows.