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US 10YR FUTURE TECHS

‌‌(H3)‌‌ Approaching Trendline Support

US TSY FUTURES

BLOCK, 10Y Sale

EUROPEAN PARLIAMENT

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The long end of the Treasury........>

US TSYS SUMMARY
US TSYS SUMMARY: The long end of the Treasury market was pummelled last week and
early Asian trade saw more of the same, rising T-Bond yields and weakening
equity markets. 
- By contrast, there was some buying in the front end of the US curve as the
weakness in equities is seen as favouring a slower path of rates but not a
reversal in the reversal of QE. Curve steepening has been quite dramatic.
- By the time European markets opened, the selling of the 30Y had ceased and
EGBs caught a strong bid. However, a block trade that sold 30Y German eurobuxl
futures against the US 30Y Ultra was noted at 0827GMT.
- The dollar trade-weighted index has remained fairly stable through the most
recent 12 hours. However, the S&P mini index future has recovered and points to
only a 0.2% decline at the open of US trade later.
- Currently, the 2Y yield is down 0.8bp at 2.133% but the 10Y is +0.4bp at
2.845% and the 30Y is sitting 1.6bp higher.

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