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Treasuries Little Changed In Early Trading

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  • Treasury futures are little changed in the first few hours of trading, the 10Y is trading at 107-31, just off overnight highs of 107-31+ a break above here and we would look to tests the highs made as GDP was announced on Thursday.
  • The trend outlook in Treasuries is unchanged and the direction is down. The contract traded to a fresh cycle low Thursday Initial resistance is 108-15+ (20-day EMA), while to the downside, initial support is at 107-04 (Apr 24 low).
  • The cash treasury curve is little changed this morning with the 2Y yield -0.6bps to 4.970%, 10Y -0.4bps to 4.609%, while the 2y10y unchanged at -36.524
  • Across local rates markets: NZGB yields are 3-4bps lower & ACGBs 3-4bps lower, while JGBs are flat to 2bp lower
  • Looking ahead: Employment Cost Index, FHFA House Price Index, MNI Chicago PMI & Conf. Board Consumer Confidence later today, while major focus will turn to FOMC on Wednesday
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  • Treasury futures are little changed in the first few hours of trading, the 10Y is trading at 107-31, just off overnight highs of 107-31+ a break above here and we would look to tests the highs made as GDP was announced on Thursday.
  • The trend outlook in Treasuries is unchanged and the direction is down. The contract traded to a fresh cycle low Thursday Initial resistance is 108-15+ (20-day EMA), while to the downside, initial support is at 107-04 (Apr 24 low).
  • The cash treasury curve is little changed this morning with the 2Y yield -0.6bps to 4.970%, 10Y -0.4bps to 4.609%, while the 2y10y unchanged at -36.524
  • Across local rates markets: NZGB yields are 3-4bps lower & ACGBs 3-4bps lower, while JGBs are flat to 2bp lower
  • Looking ahead: Employment Cost Index, FHFA House Price Index, MNI Chicago PMI & Conf. Board Consumer Confidence later today, while major focus will turn to FOMC on Wednesday