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

US TSYS
  • Jun'24 10y futures have pushed higher throughout the day, volumes remain on the light side, while we still trade well within Thursday's ranges after making lows on the open of 110-12+, we now trade near highs of 110-19 at 110-18 up + 05+ for the day. 5Y futures have traded similar to the 10Y up +03+ to 106-31+ just off highs made earlier of 107.
  • 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 1-3bps lower, the 2y is -2.8bps at 4.608%, the 10y is -2.4bp at 4.243%, while the 2y10y is unchanged at -37.123, 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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