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Treasuries Unchanged In Early Trading, Fed's Waller to Speak Shortly

US TSYS

TYH4 is currently trading at 109-16+, unchanged from New York closing levels
Treasury futures opened slightly higher as trading got underway in Asia, however we are back to unchanged. Japan is out for the Emperor's Birthday, meaning cash treasury trading will be closed. Fed's Waller to speak shortly.

  • Mar'24 10Y futures hit a low of 109-10 breaking through initial support of 109-17/16, before closing the session at 109-16+. Looking forward initial support now holds at 109-10 (low Feb 22) a break here opens a move to 109-05+ (lows Nov 28), to the upside initial resistance sits at 110-17+ (High Feb 15).
  • Post the close a handful of Fed speakers will talk - Fed's Lisa Cook stated it's not time to cut right now, while Fed's Harker stated there is no rush to cut rates, but that a May cut isn't off the table.
  • Fed's Waller speaks in about 30 minutes on the economic outlook

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