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Post-7Y Auction Update

US TSY FUTURES

Curves bear steepen (3M10Y +6.186 a155.562; 2Y10Y +1.292 at -43.841) as bonds extend session lows following the weak $40B 7Y Note auction (3.859% high yield vs. 3.840% WI).

  • TYH4 is currently -14 to session low of 112-28.5 -- still well above initial technical support at 111-31+/111-20 (Low Dec 14 / 20-day EMA); resistance above at 113-12.5, a Fibonacci projection point (1.764 proj of the Oct 19 - Nov 3 - Nov 13 price swing).

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