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Market Roundup

US TSYS
Another one-two punch on FI markets: Tsys weaker but still well off early Friday lows. Heavy volumes with TYH2 over 1.05M already
  • StL Fed Pres Bullard continues to take hardline stance on addressing growing inflation, would like to see 100bps in rate hikes by July, balance sheet run-off in second half of the year, says Fed should be "prepared for asset sales" if needed.
  • Prior to Bullard reprising his post-CPI stance on this morning's CNBC interview, Russia/Ukraine headlines took a more positive turn after US amplified concerns of imminent invasion late last Friday.
  • LAVROV: RUSSIA CAN CONSIDER CONTINUING TALKS WITH U.S., NATO ... THERE'S ALWAYS A CHANCE TO AGREE, Bbg.
  • Equities marginally weaker (ESH2 -5.5 at 4404.0), Gold +4.37, WTI crude -.35 at 92.75. US$ index DXY +.183 to 96.265 -- adding to Fri's late move.
  • Technicals: Mar 10Y futures remain weaker at 126-06 (-6.5) but off lows recent lows of 126-02.5 -- still well above first support level of 125-17.5 Thu's low. second support at 125-06.5, May 30, 2019 low.
    • Short-term gains are considered corrective and the primary downtrend remains intact. The contract recently cleared a layer of support between 126-01 and 125-10+ to a fresh cycle low and marked a continuation of the bearish price sequence of lower lows and lower highs.
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