Treasury Futures Hold Steady, Trade Tight Ranges Ahead of US Data

TYH4 is currently trading at 109-24, up + 04+ from New York closing levels

• Mar'24 10Y futures have traded in a very tight range during the Asia morning session, lows of 109-21 and highs of 109-25+. Futures remain in a downtrend and key levels to watch would be a retest of Mondays lows at 109-16, break of those levels would strengthen the bearish condition and signal scope for an extension towards 108-19+, the 61.8% Fibonacci level.
• Treasury yields are unchanged to 1bp lower across the curve, the 2Y yield is unchanged at 4.718%, 10Y -0.8bp lower at 4.272%, while the 2y10y has made new YTD lows at -45.087.
• Earlier Kansas City Feb Pres Jeff Schmid, spoke on economic and monetary policy, reiterating that there is no rush to cut rates, and that the Fed needs convincing evidence before easing (MNI)
• Looking ahead: Durable Goods Orders, FHFA House Price Index, Conf. Board Consumer Confidence & Richmond Fed Manufact. Index out later today.