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Treasury Futures Erase Earlier Move Lower

US TSYS
  • Jun'24 10Y futures have pared losses and now trade at 107-21, after earlier tapping initial resistant at 107-16.
  • Cash Treasury curve has erased earlier moves and has now slightly bull-steepened with the 2Y yield -1.1bps at 4.976%, 10Y -1bps to 4.657%, while the 2y10y is back to unchanged at -31.149.
  • Bond volatility has spiked with the Move Index up 38.45% MTD to 119.59 (See chart)
  • Source - BBG

  • Looking ahead: Beige Book, TIC Flows and more Fed speakers later in the evening: Cleveland Fed Mester on a Federal Reserve update (Q&A) at 1730ET, Fed Gov Bowman IIF Global Outlook Forum (no text, Q&A) at 1915ET.

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