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Short-End Futures Weaken Further Post-CPI

US TSYS

Treasury futures weakened a little overnight Thursday, with the short-end seeing notable weakness as reverberations from Wednesday's high CPI print continue to reverberate.

  • Dec 10-Yr futures (TY) down 1/32 at 130-22.5 (L: 130-15 / H: 130-26); not terrible volumes (~240k) considering that with the Veterans Day Holiday being observed, there is no cash Tsy trading and the CME floor is closed.
  • However, equity markets are open as usual (futures rising, led by the Nasdaq).
  • The ED strip through 2023 touched fresh cycle lows briefly before bouncing. 2Y futures off slightly; Ultras a little higher, bouncing a bit following the terrible 30Y auction Weds.
  • No data, speakers, or supply due to the holiday.
  • MNI's US Fixed Income coverage will end at 1230ET, shortly after the European cash close, picking up again during the Asia-Pacific session (around 1800ET).
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