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US TSYS: Futures Re-Opens Stronger

US TSYS
USBulletMarketsFixed Income BulletsNorth America

TYH5 is 108-19, +0-04 from NY closing levels. 

  • Yesterday, Treasury futures closed near the low end of the day's range, TYH5 briefly traded through 108-16.5 support before bouncing to 108-17 after the bell.
  • US data was mixed.
  • Curves steeper with short end rates outperforming (2s10s now at 25.015 vs. 19.960 low) - despite late 2s5s flattener block in late trade: 17,300 TUH5 102-21.38, slightly through the 102-21.25 post time offer vs. 15,300 FVH5 106-04.37, well through the 106-03.75 post time offer.
  • Yesterday’s Tsy $69B 2Y note auction (91282CME8) came out on the screws: 4.335% high yield vs. 4.335% WI; 2.73x bid-to-cover vs. 2.77x prior. Tuesday sees Tsy $28B 2Y FRN & $70B 5Y Note auctions.
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TYH5 is 108-19, +0-04 from NY closing levels. 

  • Yesterday, Treasury futures closed near the low end of the day's range, TYH5 briefly traded through 108-16.5 support before bouncing to 108-17 after the bell.
  • US data was mixed.
  • Curves steeper with short end rates outperforming (2s10s now at 25.015 vs. 19.960 low) - despite late 2s5s flattener block in late trade: 17,300 TUH5 102-21.38, slightly through the 102-21.25 post time offer vs. 15,300 FVH5 106-04.37, well through the 106-03.75 post time offer.
  • Yesterday’s Tsy $69B 2Y note auction (91282CME8) came out on the screws: 4.335% high yield vs. 4.335% WI; 2.73x bid-to-cover vs. 2.77x prior. Tuesday sees Tsy $28B 2Y FRN & $70B 5Y Note auctions.