Treasuries Remain Rangebound, Yellen To Testify

TYH4 is currently trading at 110-07, +01 from New York closing levels.

It has been an uneventful session so far, only thing to note is the Japanese BoJ Deputy Governor Uchida has been speaking this morning on financial conditions and interest rates. It, however, hasn't shed too much light on when the end of NIRP will come.

• Treasuries futures have been trading in a very small range of 111-03 lows/ 111-07+ highs, Key support lies at 110-22+, the February 5th lows, with resistance at 111-20, the 20-day EMA.
• Cash yields opened 1bp lower and have drifted just a touch to 1.5-2bps lower, the 2Y yield -1.7bp at 4.412%, while the 10Y yield trade -1.7bp at 4.104%.
• US Secretary Treasury Janet Yellen will testify on the 2023 Financial Stability Oversight Council annual report, at 9am ET Thursday.