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Treasury Futures Continue Move Lower Ahead Of Personal Income/Spending

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  • Treasury futures have edged slightly lower over the first few hours of trading here in Asia, down 02+ to 107-10, but still above the the overnight low of 107-04. Initial supports holds at 107-07+ (76.4% of the Oct - Dec ‘23 bull leg (cont)), while a break back above 108-22+ would be needed to break the trend lower.
  • Cash Treasury yields have continued Thursday's move higher with the 2Y yield +0.4bps to 5.002%, 10Y +0.8bps to 4.712%, while the 2y10y +0.415 at -29.151
  • Across local rate markets, NZGBs yields are 5-7bps higher, ACGBs are 11-14bps higher with yields now at the highest point for the year while JGBs yields are 1-4bps higher
  • Looking ahead: Personal Income/Spending, UofM Sentiment, while May Treasury options expire.
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  • Treasury futures have edged slightly lower over the first few hours of trading here in Asia, down 02+ to 107-10, but still above the the overnight low of 107-04. Initial supports holds at 107-07+ (76.4% of the Oct - Dec ‘23 bull leg (cont)), while a break back above 108-22+ would be needed to break the trend lower.
  • Cash Treasury yields have continued Thursday's move higher with the 2Y yield +0.4bps to 5.002%, 10Y +0.8bps to 4.712%, while the 2y10y +0.415 at -29.151
  • Across local rate markets, NZGBs yields are 5-7bps higher, ACGBs are 11-14bps higher with yields now at the highest point for the year while JGBs yields are 1-4bps higher
  • Looking ahead: Personal Income/Spending, UofM Sentiment, while May Treasury options expire.