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Treasuries Remain Rangebound Ahead of FOMC Minutes


TYH4 is currently trading at 109-31+, up - 01+ from New York closing levels
Treasury futures have opened slightly weaker in early trading, however have now recovered to trade slightly higher for the day and remain comfortably inside Tuesday's ranges. There has been very little in the way of market headlines, Hong Kong and Chinese equities have soared after further government and policy support.

  • Mar'24 10Y Futures have been trading in tight ranges, lows of 109-27 and highs of 110. Initial resistance is 110-17 (Feb 15 high), while support holds at 109-17/15 (50.0% of Oct 19 - Dec 27 climb / Low Feb 16).
  • Yield curves have continued the steepening trend from Tuesday with yields moving lower throughout Asia trading, with the 2Y yield -2.1bps lower to 4.591%, 10Y yield -0.6bp lower to 4.269%, while the 2y10y is +1.544 at -32.355
  • Looking ahead later today Main focused will be on the FOMC minutes, while MBA Mortgage Applications, Chicago Fed Nat Activity Index, Jobless Claims, S&P Global US PMI, and New & Existing Home Sales will also be out.

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