November 20, 2023 11:46 GMT
Modestly Bear Steeper With 20Y Supply And A Lone Barkin Ahead
US TSYS
- Cash Tsys trade towards the lower end of the day’s range, 2-3.5bp cheaper across the curve attributed to an uptick in oil futures, some hope with developments in the Israeli-Hamas hostage situation and a bid in the Hang Seng seemingly combined to result in a modest downtick for Tsys early this week.
- TYZ3 at 108-17+ nears an earlier low of 108-16 after which lies support at 108-03 (50-day EMA). The bull cycle remains in play though, with resistance at 109-08+ (Nov 17 high) and greater focus on 109-20 (Sep 19 high). Volumes stand at a solid 300k.
- Fedspeak: Barkin on Fox Business (1200ET)
- Data: Leading index Oct (1000ET)
- Note/bond issuance: US Tsy $16B 20Y Bond auction (912810TW8) (1300ET)
- Bill issuance: US Tsy $75B 13W, $68B 26W bill auctions (1130ET)
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