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Treasury Future Little Changed, Ranges Tight, 10Y JGB Yield Off Highs

US TSYS
  • Treasury futures have traded in tight ranges today, the front-end is slightly lower. TU is (- 00.125) at 101-11.625, but still safely above initial support at 101-10.625, while TY is performing slightly better trading (+ 00+) at 107-25 and holds above overnight lows of 107-21+.
  • Volumes: TU 14k, FV 21k TY 30k
  • Tsys Flows: Block seller of 1.8k FVU4 at 105-11
  • Cash treasury curve has reversed the morning steepening and now trades flatter for the day, yields are now flat to 1bps higher with the 2Y +0.8bps to 4.981%, the 10Y +0.4bps at 4.616%.
  • Across APAC rates: ACGB yields are 4-8bps higher, curve steeper, NZGB yields are flat to 3bps lower, curve twist-flattening, while JGBs are flat to 1.5bps higher, curve is mixed the 10Y trading at 1.071% post the 2Y auction after earlier hitting 1.098%

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