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Futures Consolidate After Steepening Tuesday


T-Notes operate around closing levels, last -0-01+ at 139-08+.

  • The space finished cheaper on Tuesday, although yields were off extremes as the curve steepened. Local data was mixed, with consumer confidence data registering fresh multi-year lows, while Richmond Fed m'fing and the latest round of housing data was solid to strong. Volume was supported by roll activity.
  • The latest round of 2-Year Note supply stopped through WI by 0.3bp, while the cover ratio topped the recent averages as dealer takedown slid and indirect participation jumped.
  • Corporate/sovereign $ supply was also noted.
  • Eurodollar futures -0.5 to -1.0 through the reds.
  • Little of note on the regional docket during Asia-Pac hours.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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