May 27, 2024 09:17 GMT
Limited Holiday Trade In Curtailed Futures Session
US TSYS
Tsy futures look to EGBs for direction, ticking lower in early London trade, before stabilising/recovering from worst levels on the back of the German IFO data.
- A reminder that cash markets are closed owing to the observance of the Memorial Day holiday, while Tsy futures are set to close at 13:00 NY/18:00 London.
- TYM4 last trades +0-00+ at 108-23 on sub-par volume of ~121K. Roll activity accounts for nearly 25K of that volume.
- Initial/key support comes in at the May 14 low (108-15), while initial resistance comes in at the 50-day EMA (109-05+).
- Friday’s PCE print headlines this week’s U.S. data calendar, with the latest MNI Chicago PMI reading due on the same day.
- The final rounds of pre-June FOMC Fedspeak will also cross in the coming days, with the blackout period going into effect as of 1 June.
- On the supply front, 2-, 5- & 7-Year conventional Tsy supply is due over the coming sessions, with 2-Year FRNs also set to come to market.
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