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Treasuries Rally On Powell Initial Remarks

US TSYS
  • Tsys rally on Powell’s opening remarks, 2Y currently by 2.5bps for 4bp richer on the day having already pared some of the initial gains.
  • Long-end takes over belly for underperformance on the day (30s near unchanged on the day), with the curve trading bull steeper. 2s10s little changed at -27.3bps.
  • TYZ3 climbs to session highs of 105-30+ before dipping to 105-26+, remains off resistance at 106-15+ (Oct 18 high).

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