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Post-CPI Follow-Up

US TSY FUTURES
Treasury futures see-sawing near post-data highs as markets digest offsetting CPI figures: higher used car and medical care services vs. lower than expected lodging and airfare items.
  • Tsy 10s currently 115-21 vs. 115-25 high, yield off 3.4426% initial low to 3.4597%. Curves off deeper inverted levels, 2s10s currently +1.595 at -49.175 (-58.897 low).
  • For a technical perspective, initial resistance at 115-27+ High May 8, a resumption of gains would open key resistance at 117-01+, the Mar 24 high. This is the bull trigger.
  • Equities holding decent gain: SPX Eminis +33.5 at 4167.5.

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