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Post-UofM Sentiment Update, Rates Extend Lows

US TSY FUTURES
  • After a couple brief rounds of two-way trade, Treasury futures are extending session lows in the last couple minutes, sellers hit an air pocket with Jun'23 10Y futures falling to 115-23 low (-10.5), yield bounced to 3.4252% high.
  • Curves holding flatter profiles, 2s10s -1.717 at -53.436.
  • Futures didn't care for the rise in long-term inflation expectation, SPX eminis pared gains to flat at 4144.0.

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