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(M1)‌‌ Post-CPI Weakness

US 10YR FUTURE TECHS
  • RES 4: 134-20 100-dma
  • RES 3: 134-06+ High Feb 25
  • RES 2: 133-23 High Mar 2
  • RES 1: 133-16+ Post-NFP High May 7
  • PRICE: 131-31 @ 15:57 BST May 12
  • SUP 1: 131-29+ Low May 12
  • SUP 2: 131-12 Low Apr 13 and key near-term support
  • SUP 3: 131-03+ Low Apr 6
  • SUP 4: 130-25+ Low Apr 5 and the bear trigger

US 10y futures extended the slip off the post-payrolls highs Wednesday, with higher-than-expected CPI adding extra weight. Weakness through the 20-day EMA counteracts any positive signals from the rally at the tail-end of last week, which strengthens the bearish theme and exposes support at 131-18+, Apr 29 low.

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