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Treasuries Open Off Friday Highs, Yields 1-2bps Higher

  • Jun'24 10Y futures are slightly off Friday's highs trading at 110-30+ vs 111-02, however still above initial resistance of 110-26+ (20-day EMA) while the next resistance level at 111-07 (50-day EMA).
  • Treasury yields were 5-9bps lower across the curve on Friday, as trading gets underway this week yields are giving some of Friday's moves back opening 1-2bps higher, the 2Y yield 1.5bps higher to 4.546%, the 10y 1.4bp higher to 4.193%, while the 2y10y -0.499 at -35.651.
  • Looking ahead: data resumes Tuesday with S&P Global US Services PMI, ISM Services, Factory and Durable Goods Orders.

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