Futures Slightly Stronger After A Bull Steepening On Thursday

TYH4 is trading at 111-12, +0-02 from NY closing levels.

• This comes after US tsy yields finished the NY session 4-9bps lower after Q4 GDP printed 3.3% annualised growth, well above the consensus of 2.0%. Core PCE Price Index showed 2.0%, in line with consensus and prior. Initial Jobless Claims increased by 25k last week to 214k, suggesting that the previous week’s low was exaggerated by seasonal effects.
• US Treasury Secretary Yellen said on Thursday that surprisingly strong economic growth in the fourth quarter was a "good thing" that signals continued healthy consumer spending without increases in inflationary pressures.
• US tsys were also buoyed by comments from ECB policymakers that they were open to starting a discussion about future rate cuts in March if data points to inflation hitting 2% this year. A March pivot would pave the way for rate cuts, most likely in June - Reuters News.
• Later today the US calendar shows Personal Income & Spending, PCE Deflator for December, Pending Home Sales and Dallas Fed Manf. Activity data.