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Post-November FOMC Minutes React

US TSY FUTURES
  • Tsy futures inching lower after the November FOMC Minutes showed unanimous decision to "proceed carefully" while rates to "remain restrictive for some time".
  • Dec'23 10Y futures still inside session range at 108-26.5 (-.5) well above initial technical support below at 108-04 (50-day EMA).Initial technical resistance well above at 109-08+ (High Nov 17).
  • Curves looking steeper at the moment (3M10Y +1.776 at -97.812; 2Y10Y +2.731 at -46.796).
  • Heavy volumes (TYZ3 >2.1M) due to increased quarterly futures rolling ahead First Notice on Nov 30.

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