Trial now

Approaching Key Support


Hovering Just Off Monday's Late Cheaps


Climbs Above The 20-Day EMA


Outlook Remains Bearish


Chinese Media Looks To Placate Equity Worry

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Tsys have pulled back from overnight highs Friday to sit largely flat, with PCE data the session's focus.

  • Sep 10-Yr futures (TY) down 2/32 at 132-03.5, but well within prior session's ranges (L: 132-02 / H: 132-06.5) and on weak volume (~170k as of 0600ET).
  • 30Yr outperforming: 2-Yr yield is up 0.2bps at 0.27%, 5-Yr is up 0.2bps at 0.9151%, 10-Yr is down 0.2bps at 1.4901%, and 30-Yr is down 1bps at 2.0878%.
  • Sentiment's been largely positive overnight, with a tentative bipartisan infrastructure agreement in place (though many questions remain). Stock futures briefly touched all-time highs before retracing; the dollar has softened slightly.
  • 0830ET sees the May personal income/spending report. The Fed's preferred inflation indicator, the PCE deflator, will be a focus (0.6% M/M prior, 0.5% estimate; core 0.7% prior, 0.6% estimate). Final Jun UMich sentiment at 1000ET.
  • In Fed speakers, we get Minn's Kashkari at 1000ET, Cleveland's Mester at 1130ET, Boston's Rosengren at 1300ET, and NY's Williams at 1500ET.
  • No supply; NY Fed buys ~$8.425B of 2.25-4.5Y Tsys.