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Futures Through Bear Trigger Level

US TSYS

A 2.7bp jump in 10Y Tsy yields on the break of the overnight high of 2.0568%; through the 2022 high of 2.0627% for the highest levels since 2019. Now up 8.6bp for the session.

  • No specific trigger in last half hour, seemingly just continuing from overnight optimism over Ukraine-Russia talks.
  • 10Y future through 125-14+ Feb 10 low - the level identified by our tech analyst as the bear trigger, confirming a resumption of the broader downtrend. Now at 125-12, next supports at 125-06+ (May 30, 2019 low on continuous contract) and 124-27 (May 24 2019 low).

US 10Y Yield IntradaySource: BBG, MNI

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