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Late Session Reversal, Yield Curves Bouncing

US TSY FUTURES
Bond reversal accelerating, yield curve mildly steeper now with long end falling back to early overnight levels, 30YY currently 2.0832 (-.0028) vs. 2.1082% during early Asia hours.
  • TYZ1 nearing first support of 131-07 (Sep 28 low) followed by 131-03.5 (Jun 25 low). Third support at 131-01 -- 1.382 projection of Aug 4 - 11 - 17 price swing.
  • Robust total volumes on net, however, w/TYZ near 1.6M occurred in first half of session, only appr 125k over last hour.
  • Trading desks note fast$ and program sellers in intermediates to long end, fast$ buying 5s vs 10s and 30s.

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