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Treasuries Start NYE On A Whimper

US TSYS
  • Cash Tsys have been subdued since reopening after no Tokyo session.
  • 2Y yields are -0.4bps at 0.720%, 5Y unch at 1.263%, 10Y unch at 1.508% and 30Y +0.2bps at 1.919%.
  • TYH2 is up +0-01+ at 130-14+ on very low volumes (60k) as it slowly continues to retrace Wednesday’s sell-off. Initial support could be seen at 130-03 (Dec 29 low) before a firmer 129-31 (Dec 8 low). Initial resistance is 130-23+ (Dec 29 high).
  • Nothing of note scheduled for today’s shortened session (futures close 1300ET, cash Tsys 1400ET).
  • Normal service will resume on Monday with the Markit PMI for Dec plus a resumption of bill NY Fed buy-ops and bill issuance, although volumes will be lower with the London bank holiday.
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