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Extending Highs, 10Y Yield Below 4%

US TSY FUTURES
  • Post data rally in Treasury futures has regained momentum, marking session highs at the moment: TYH4 trades 112-08.5 last +20.5, through initial technical resistance of 112-02 with focus on 112-26+ (High Jan 12). 10Y yield 3.9672% (-.0647). Curves steeper: 2s10s +3.648 at -26.819.
  • Treasury announced that it “intends to announce the date of the first regular buyback operation at the May refunding” and will conduct several small test operations in April.
  • Next up: MNI Chicago PMI at 0945ET followed by FOMC rate annc at 1400ET and press conference 30 minutes later.

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