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Flat Ahead Of Durable Goods, FOMC

US TSYS SUMMARY

Treasuries have drifted slightly lower within Tuesday's ranges overnight, with the belly underperforming ahead of durable goods data and the Fed decision.

  • The 2-Yr yield is down 0.2bps at 0.1191%, 5-Yr is up 1.7bps at 0.4256%, 10-Yr is up 0.9bps at 1.0432%, and 30-Yr is up 1.3bps at 1.8039%.
  • Mar 10-Yr futures (TY) down 1/32 at 137-11 (L: 137-09 / H: 137-13.5).
  • S&P futures testing Tuesday's session lows with the dollar heading higher, but Tsys have not seen a concomitant move.
  • Data highlight is durable goods at 0830ET, not much else on the docket.
  • Later, all eyes on the FOMC - while the decision (1400ET) is unlikely to move the needle much, Powell's press conference (1430ET) likely to be more interesting.
  • In supply, $55B of 105-/154-day bills sell at 1130ET; $28B 2-Yr FRN auction at 1300ET. No NY Fed operational purchases today.

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