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US TSYS: Bonds Extending Lows, Curves Bear Steepen

US TSYS
  • Treasury futures have just extended session lows in the last few minutes, no particular headline driver - but likely driven by a combination of preemptive rate locking ahead next week's corporate supply (estimates as high as $40B, not to mention next week's front-loaded Treasury supply).
  • The Mar'25 10Y futures trade down to 108-23 (-3), 10Y yield +.0244 at 4.5834%, 2s10s curve +.802 at 32.544 nearing yesterday's May '22 highs.
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  • Treasury futures have just extended session lows in the last few minutes, no particular headline driver - but likely driven by a combination of preemptive rate locking ahead next week's corporate supply (estimates as high as $40B, not to mention next week's front-loaded Treasury supply).
  • The Mar'25 10Y futures trade down to 108-23 (-3), 10Y yield +.0244 at 4.5834%, 2s10s curve +.802 at 32.544 nearing yesterday's May '22 highs.