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Treasuries Open Little Changed, Biden To Meet Congress Leaders Tuesday

US TSYS
  • Mar'24 10Y futures have opened unchanged as trading gets underway for the week, Friday's ranges were lows of 109-09 vs highs of 109-31, we trade just off those at 109-30. Looking forward initial support is 109-09 (Low Feb 23) a break and hold below here opens the Nov 28 lows at 109-05+, to the upside initial resistance is at 110-15.5 (20-day EMA).
  • Treasury yield curves bull flattened on Friday, and we are opening mostly inline with closing levels, the 2Y yield -0.4bps lower at 4.685%, the 10Y yield -0.6bps lower at 4.242% while the 2y10y is at -44.748 yearly lows.
  • Biden to meet congress leaders on Tuesday a bid to unlock billions of dollars in emergency aid to allies including Ukraine and avert a US government shutdown.
  • Look ahead: New Home Sales & Dallas Fed Mfg Activity Index. Treasury auctions $63B 2Y & $64B 5Y, $70B 26W bills, $79B 13W bills auctions

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