Free Trial

Futures Update: Paring Losses

US TSY FUTURES
  • Still mostly weaker, Treasury futures are bumping up against the top end of the early overnight range, curves twisting steeper with the short end running steady.
  • Currently, Jun'24 10Y futures are trading 107-26.5 (-2.5), well below initial technical resistance of 108-22.5 (High Apr 19), volume nearly doubling since the open to just over 780k. The 2s10s curve is currently +3.341 at -33.596.
  • No more data on the day, Tsy bill auctions ($70B 13- and 26W) ahead at 1130ET.
  • Fed speakers in Blackout through May 2.
  • Corporate issuance rather muted as the latest earnings cycle gathers steam, though American Express 4pt debt generating some rate lock hedging in the short end.
  • Corporate earnings: Verizon and Albertsons announced ahead of the open, Nucor, Alexandria Real Estate, Globe Life after the close. Expected Tuesday: Pepsico, UPS, GM, Halliburton, Philip Morris, Pulte, Freeport McMoRan, Lockheed Martin, JetBlue, GE, Kimberly-Clark, Sherwin-Williams, Baker Hughes, Tesla, Texas Instruments, Visa, Enphase, Seagate.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.