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Extending Lows

US TSY FUTURES
  • Curves hold steeper profiles (2Y10Y +2.457 at -37.028) as bonds lead sell-off to new session lows in the last couple minutes: Mar'24 10Y -11 at 111-30.5.
  • Current level sitting on initial technical support: 111-31+/111-29+ (Low Dec 14 / 20-day EMA). A convincing break lower puts focus on the next support level at 111-09+ (High Dec 7) followed by 109-31+ (Low Dec 11 and key short-term support).
  • Session data coming up: ISMs and JOLTS Job Openings at 1000ET. Look ahead: ADP private employment data at 0815ET tomorrow, followed by December employment release on Friday at 0830ET.

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