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Late Rebound in Tsys AND Stocks, Differing Factors

US TSYS
  • Treasury futures have bounced off lows generated by hawkish comments by Fed Chairman Powell during a conversation with BoC Macklem, TYM4 climbed to 107-24 vs. 107-13.5 lows in the last couple minutes -- trading desks citing Middle East tensions as Israel news reports War Cabinet has decided to strike back at Iran after the weekend drone attacks.
  • Risk-off support in rate does not explain a brief bounce in S&P Eminis to 5123.25 session high, some posited a relief rally as Powell/Macklem talk ended in addition to a couple buy programs. Stocks skittish, have receded to 5089.50.

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