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Extending Top of Range

US TSY FUTURES
  • Treasury futures extending the top end of the overnight range, curves steeper (2s10s +2.991 at -86.060) with 2s through 10s in the green (Sep 10Y +1.5 at 110-23, yield 4.0478%) at the moment.
  • No particular headline or block/cross related driver, support appears to be in-line with Bunds moving off lows. Moderate volumes, 10Y futures just over 250k at the moment.
  • Limited midmorning data points has Wholesale Inventories, Wholesale Trade Sales and Consumer Credit at 1000ET.
  • Scheduled Fed speakers Fed VC Barr moderates discussion: bank supervision/cap rules at 1000ET; SF Fed Daly on inflation/banking and Cleveland Fed Mester eco/policy outlook, text, Q&A both speaking at 1100ET at separate events; Atlanta Fed Bostic economy outlook at 1200ET.
  • Reminder, Fed enters policy blackout period at midnight Friday.

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