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Long Hang-Time For BLS Down-Revision

US TSY FUTURES
  • Treasury futures hold inside session range after the BLS prelim annual payrolls benchmark finally released with a down-revision of 818k jobs to the Mar'24 statistics.
  • Tsy 10Y Sep'24 futures trades +3.5 at 113-21.5 last after alternately extending session low (113-14.5) / high (113-27.5) as markets reacted to spurious estimates before the BLS finally released the figures.
  • Current levels well inside technicals: resistance at 114-03/114-16 (High Aug 6 / 76.4% of the Aug 5 - 8 pullback) vs. support at 112-23 (20-day EMA ).
  • Curves steeper: 2s10s +3.312 at -14.802, 5s30s +1.832 at 27.039.

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