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Extending Highs Ahead ADP

US TSY FUTURES
  • Treasury futures running higher now, on the lookout for any supporting Block buys - but nothing as yet. Rather decent volumes in the lead-up to the ADP private emplyment data at 0815ET.
  • Sep'24 10Y Treasury futures are currently +3 at 110-03.5, focus is on 110-09 (High May 16 and the bull trigger). On the flipside, any resumption of bearish activity would instead refocus attention on support at 107-31.
  • Cash yields are currently running mildly lower: 2s -.0002 at 4.7702%, 10s -.0059 at 4.3201%, 30s -.0094 at 4.4641%, while curves look mildly flatter: 2s10s -0.565 at -45.020, 5s30s -0.973 at 11.696.

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