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Drawing Technical Buying

US TSY FUTURES
Tsy futures inching off pre-Existing Home Sales data lows, futures drawing technical support in 10s (111-10 last, -22) after nearly breaching second key support of 111-02+ Lower 2.0% Bollinger Band.
  • Some buying tied to ECB Lagarde comment on 50bp hike, drawing uncertainty out of mkt for larger go at next meeting.
  • yield curves steeper (2s10s +2.295 at -78.348) off highs amid pre-auction short sets in 2s ahead today's $42B 2Y Note sale (91282CGN5)
  • Cross-asset: Gold weaker but bouncing 1838.54 (-2.85), US$ index +.246 at 104.110.

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