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Extending Lows

US TSY FUTURES
  • Treasury curves are bending flatter, 2s10s -7.315 at -94.852, with 2Y through 10Y futures extending session lows in the last few minutes, Bonds weaker but off lows.
  • More flow driven than headline related, while Gilts and Bunds recede into the cash close as well.
  • Currently, 10Y futures are -16 at 112-17.5, still above initial support at 112-07.5 (Low Jul 13). A clear break puts focus on key support and bear trigger at 110-05, the Jul 6 low.

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