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Post-July FOMC Minutes React

US TSYS
  • Treasury futures are extending highs after a slight delay following the July FOMC minutes release, focus on several Fed officials saw a cut in July as plausible.
  • Sep'24 10Y futures climb to 114-01 high (+15), just shy of initial technical resistance at 114-03/114-16 (High Aug 6 / 76.4% of the Aug 5 - 8 pullback).
  • Curves steeper, 2s10s +3.928 at -14.186, 5s30s +2.749 at 27.956. 10Y yield has slipped to 3.7595% low - last seen on August 5.

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