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Curves Off Steeper Levels

US TSY FUTURES
  • Bonds leading rebound off overnight lows in the last 15 minutes - coinciding with tweet from fund manager Bill Ackman has covered shorts in Tsys in light of "too much risk in the world to remain short."
  • Dec'23 10Y futures near steady at the moment (TYZ3 -.5 at 105-31.5), surge in buying/short covering pushes total TYZ3 volume over 925k.
  • Short end lagging as curves reverse course, currently flatter: 3M10Y -.677 at -56.439, 2Y10Y -1.913 at -18.286 vs. -11.024 high.

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