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Treasury Futures Edge Higher, Fed's Barr & Bostic Speak Later Today

US TSYS
  • Jun'24 10y futures have edged slightly higher as we head into the Asia break, volumes remain on the light side, while we trade well within Thursday's ranges after making lows on the open of 110-12+ and trade near highs of 110-16 at 110-15+ up + 03 for the day. 5Y futures have traded similar up +02 to 106-30 just off highs made earlier of 106-30+.
  • Looking at technical levels: Initial support lays at 109-24+ (Mar 18 low/ the bear trigger), further down 109-14+ (Nov 28 low), while to the upside initial resistance is seen at 110-26+ (Mar 21 high), while above here 111-01+ (50-day EMA), a break above here would open a retest of 111-24 (Mar 12 high).
  • Treasury curves have bull-steepened today with yields 1-2bps lower, the 2y is -1.7bps at 4.619%, the 10y is -1.4bp at 4.253%, while the 2y10y is -0.320 at -36.826, down from a high of -32.00 on Thursday.
  • Looking ahead: It's an empty calendar for Friday, while Fed's Barr & Fed's Bostic will speak later today
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