May 25, 2022 10:47 GMT
Treasuries Treading Water As FOMC Minutes Eyed
US TSYS
- Cash Tsys sit little changed on the day after yesterday’s surge as markets await the next steer from the FOMC minutes at 1400ET along with sizeable issuance beforehand after yesterday’s solid 2Y note auction.
- 2YY -0.2bps at 2.512%, 5YY +0.2bps at 2.741%, 10YY -0.5bps at 2.743% and 30YY -1bp at 2.956%.
- TYM2 consolidates yesterday’s move higher, sitting 3+ ticks higher at 120-15+ in a narrow range on the day amidst average volumes. The improvement in the current short-term bullish condition sees it next eye resistance at the 50-day EMA of 120-28+.
- Bond issuance: US Tsy $22B 2Y note FRN re-open auction (91282CEL1) at 1130ET before US Tsy $48B 5Y note auction (91282CET4) at 1300ET.
- Bill issuance: US Tsy $30B 119D bill sale at 1130ET
- Data: Weekly MBA mortgage applications of interest after yesterday’s slide in new home sales (0700ET), along with durable goods preliminary release for April (0830ET).
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