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‌‌(M1)‌‌ Post-CPI Weakness Extends

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: 131-28 @ 11:30 BST May 13
  • SUP 1: 131-27 Low May 13
  • 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 remain weak after the sharp post-CPI sell-off, extending to new lows of 131-27. Weakness through the 20-day EMA this week has counteracted 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. A break through here exposes further losses toward the bear trigger at April 5th's 130-25+.

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