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US TSY FUTURES: Extending Session Highs

US TSY FUTURES
  • Treasury futures are extending session highs in late trade, Mar'25 10Y futures breaching initial technical resistance of 108-16.5 (20-day EMA) to 108-23 high (+12.5) next resistance level at 109-06 (Dec 31 high).
  • Curves mixed: 2s10s -2.513 at 36.000, 5s30s +1.182 at 44.227. 10y yield slips to 4.5902% low.
  • Projected rate cuts through mid-2025 have regained traction after cooling this morning, current lvls vs. this morning* as follows: Jan'25 steady at -0.7bp, Mar'25 at -7.6bp (-6.3bp), May'25 -14bp (-11.8bp), Jun'25 -24.2bp (-20.4bp), Jul'25 at -28.7bp (-23.7bp).
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  • Treasury futures are extending session highs in late trade, Mar'25 10Y futures breaching initial technical resistance of 108-16.5 (20-day EMA) to 108-23 high (+12.5) next resistance level at 109-06 (Dec 31 high).
  • Curves mixed: 2s10s -2.513 at 36.000, 5s30s +1.182 at 44.227. 10y yield slips to 4.5902% low.
  • Projected rate cuts through mid-2025 have regained traction after cooling this morning, current lvls vs. this morning* as follows: Jan'25 steady at -0.7bp, Mar'25 at -7.6bp (-6.3bp), May'25 -14bp (-11.8bp), Jun'25 -24.2bp (-20.4bp), Jul'25 at -28.7bp (-23.7bp).