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Post UofM React

US TSYS
  • Treasury futures remain weaker, little react after U. of Mich. sentiment figures comes out more or less in-line with expectations: U. of Mich. Sentiment (79.6 vs 80.0 est), 1 Yr Inflation (3.0% vs 2.9% est), 5-10 Yr Inflation (2.9% vs 2.8% est).
  • Mar'24 10Y futures currently -16 at 109-21.5, after breach of initial technical support of 109-17/16+ (50.0% of Oct 19 - Dec 27 climb / Low Feb 14) earlier to 109-15 low. Resistance above at 110-17.5 (Feb 15 high).
  • Curves bear flatten: 2s10s -1.189 at -35.798, 10Y yield +0.0708 at 4.3008%.

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