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US TSYS: Futures Re-Open Slightly Stronger, No Cash Trading In Asia Today

US TSYS
USBulletMarketsFixed Income BulletsNorth America

TYH5 is 109-00+, +0-01+from NY closing levels. 

  • US tsys finished near session bests on Monday following much weaker than expected Chicago PMI data. Chicago Business Barometer™, produced with MNI slipped 3.3 points to 36.9 in December. This is the third consecutive monthly decline, with the index at its lowest since May 2024, and below the 2024 average.
  • Higher-than-expected pending new home sales (2.2% vs. 0.8% est) and a jump in Dallas Fed mfg index data (3.4 vs. -3.0 est) tempered US tsys support midmorning. The Mar'25 10Y contract traded around 108-30 (+16) through the second half, with the 10Y yield -.0806 at 4.5447% after the bell.
  • Projected rate cuts into early 2025 gained momentum vs. Monday morning, levels (*) as follows: Jan'25 steady at -2.8bp, Mar'25 -14.6bp (-13.6bp), May'25 -20.6bp (-19.5bp), Jun'25 -30.3bp (-28.8bp).
  • Reminder for Tuesday's session: Rate futures have full session (1600ET close) while cash Tsys close at 1400ET. Still no decision from the CME Group regarding the "day of mourning" in honor of Pres Carter on January 9, while stocks and Federal Gov is closed.
  • There is no cash dealing in US tsys today with Japan out for a bank holiday. 
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TYH5 is 109-00+, +0-01+from NY closing levels. 

  • US tsys finished near session bests on Monday following much weaker than expected Chicago PMI data. Chicago Business Barometer™, produced with MNI slipped 3.3 points to 36.9 in December. This is the third consecutive monthly decline, with the index at its lowest since May 2024, and below the 2024 average.
  • Higher-than-expected pending new home sales (2.2% vs. 0.8% est) and a jump in Dallas Fed mfg index data (3.4 vs. -3.0 est) tempered US tsys support midmorning. The Mar'25 10Y contract traded around 108-30 (+16) through the second half, with the 10Y yield -.0806 at 4.5447% after the bell.
  • Projected rate cuts into early 2025 gained momentum vs. Monday morning, levels (*) as follows: Jan'25 steady at -2.8bp, Mar'25 -14.6bp (-13.6bp), May'25 -20.6bp (-19.5bp), Jun'25 -30.3bp (-28.8bp).
  • Reminder for Tuesday's session: Rate futures have full session (1600ET close) while cash Tsys close at 1400ET. Still no decision from the CME Group regarding the "day of mourning" in honor of Pres Carter on January 9, while stocks and Federal Gov is closed.
  • There is no cash dealing in US tsys today with Japan out for a bank holiday.