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Softer & Steeper As Several Factors Apply Light Pressure

US TSYS

The previously covered uptick in oil futures, some hope re: developments in the Israeli-Hamas hostage situation and a bid in the Hang Seng seemingly combined to result in a modest downtick for Tsys early this week.

  • Cash Tsy yields are 2-3.5bp higher on the day as a result, with the curve steepening.
  • 2s10s sit a little off the multi-week lows seen in recent sessions.
  • TYZ3 last shows -0-05 at 108-19, just off the base of a narrow 0-06+ range.
  • The contract’s initial support and resistance in the form of the 50-day EMA & Nov 17 high, respectively, remain untouched on the day, with the short-term bullish trend cycle extending last week.
  • The previously covered block buy in UXY futures (+2K/DV01 ~$178K) did little for the space, outside of a knee-jerk uptick.
  • Comments from Richmond Fed President Barkin (’24 voter) & 20-Year Tsy supply provide the slated NY highlights today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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