Treasuries Steady in Asia, Bostic Highlights Balanced Economic Risks

TYH4 is currently trading at 110-03+, down -02As from New York closing levels.

• Mar'24, 10Y futures have opened largely unchanged to kick Asia trading off on Friday, ranges have remained tight post the initial reaction to Retail Sales data, trading within 110-01+ to 110-8 levels
• Key technical levels to watch include initial support at 109-17/16+ (50.0% of the Oct 19 - Dec 27 bull phase/Low Feb 14), a break below here could open up new yearly lows and a test of 109-05+ (lows of Nov 28). To the upside, initial resistance lies at 110-17.5 (the highs from Feb 15th), while a break above opens up a move to 111-02+ (20-day EMA).
• Cash yields have opened 0.5-1bp higher across the curve, the 2Y yield +0.8bp higher at 4.582%, 10Y yield +0.8bps higher at 4.238%.
• Atlanta Fed's Bostic is currently speaking on monetary policy, highlighting economic risks becoming more balanced while emphasizes the strength of the job market, and suggests that the fight to reach 2% inflation is ongoing. Additionally, he notes the Fed's progress in lowering inflation but anticipates a slower decline than market expectations.
• Looking ahead: Friday data calendar includes PPI, House Starts/Build Permits, UoM Inflation