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US TSYS: Multiple Supports Breached On Hawkish Fed, 10YY Briefly Clears 4.50%

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • After initially some trepidation ahead of the 4.50% handle, 10Y yields managed to push to session highs of 4.5080% before dipping back below again (currently 4.496%).
  • In doing so it cleared the Nov 15 high of 4.5007% for highs since May.
  • The belly sees the largest sell-off on the day, with 5Y yields +13.2bps (real yield 12.4bps) having cleared 4.40% for the first time since June.
  • TYH5 has touched a fresh low of 108-29 (currently 109-00) having started the FOMC press conference at ~109-13+ and been at 109-29 prior to the FOMC announce.
  • It has cleared a bear trigger at 109-02+ (Nov 15 low) and also the round 109-00, for now stopping short of testing further support at 108-28 (1.236 proj of Oct 1-14-16 price swing).
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  • After initially some trepidation ahead of the 4.50% handle, 10Y yields managed to push to session highs of 4.5080% before dipping back below again (currently 4.496%).
  • In doing so it cleared the Nov 15 high of 4.5007% for highs since May.
  • The belly sees the largest sell-off on the day, with 5Y yields +13.2bps (real yield 12.4bps) having cleared 4.40% for the first time since June.
  • TYH5 has touched a fresh low of 108-29 (currently 109-00) having started the FOMC press conference at ~109-13+ and been at 109-29 prior to the FOMC announce.
  • It has cleared a bear trigger at 109-02+ (Nov 15 low) and also the round 109-00, for now stopping short of testing further support at 108-28 (1.236 proj of Oct 1-14-16 price swing).