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Paring Gains Post-ECB

US TSY FUTURES
  • Support for Tsys scales back slightly with the steady ECB policy announcement out of the way, Mar'24 10Y futures +17 at 112-13.5 vs. 112-23 overnight high, yield holding below 4.0% at 3.9581% last (-.0583) vs. 3.9301% low.
  • Initial technical support for TYH4 well below at 111-09+ (High Dec 7 and a recent breakout level); resistance at 112-28+ (1.618 proj of the Oct 19 - Nov 3 - Nov 13 price swing).
  • Turning to US data with policy event risk out of the way: Weekly Claims, Retail Sales and Import/Export price index data at 0830ET. Business Inventories follows at 1000ET.
  • US Treasury auctions $80B each in 4W and 8W bills at 1130ET.

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