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Treasury Futures Little Changed, Busy Day Ahead For Fed Speakers

US TSYS
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  • Treasury futures are little changed today with the 10Y contract now (+ 00+) at 109-06+, the contract made highs of 109-09 and lows of 109-05, while the 2Y contract is (+ 00.375) at 101-22.75
  • The treasury curve is little changed today with yields were flat to 1bps lower, the 2Y yield -0.7bps at 4.818%, 10Y -0.8bps to 4.412%.
  • Tsys Flows today: A 20k likely buyer of TYM4 110 calls, 0.03 at 10:24:49 AEST, and a block seller of 1,800 FVM4 105-29.25
  • Across local rate markets: ACGBs yields are 2-3bps higher, curve slightly steeper, NZGBS 1-2bps higher, curve steeper, while JGBs 1-4bps higher with the 10y yield rising to 0.975% for the first time since 2013
  • Rate cut projections remain largely in-line with this morning's levels (*): June 2024 at -10% w/ cumulative rate cut -2.5bp at 5.313%, July'24 at -22% w/ cumulative at -8bp at 5.258%, Sep'24 cumulative -21.1bp, Nov'24 cumulative -29.2bp, Dec'24 -44.4bp
  • Today, there is little on teh data calendar with markets focusing on Fed speakers including Raphael Bostic, Christopher Waller, Philip Jefferson, Loretta Mester and Michael Barr.
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  • Treasury futures are little changed today with the 10Y contract now (+ 00+) at 109-06+, the contract made highs of 109-09 and lows of 109-05, while the 2Y contract is (+ 00.375) at 101-22.75
  • The treasury curve is little changed today with yields were flat to 1bps lower, the 2Y yield -0.7bps at 4.818%, 10Y -0.8bps to 4.412%.
  • Tsys Flows today: A 20k likely buyer of TYM4 110 calls, 0.03 at 10:24:49 AEST, and a block seller of 1,800 FVM4 105-29.25
  • Across local rate markets: ACGBs yields are 2-3bps higher, curve slightly steeper, NZGBS 1-2bps higher, curve steeper, while JGBs 1-4bps higher with the 10y yield rising to 0.975% for the first time since 2013
  • Rate cut projections remain largely in-line with this morning's levels (*): June 2024 at -10% w/ cumulative rate cut -2.5bp at 5.313%, July'24 at -22% w/ cumulative at -8bp at 5.258%, Sep'24 cumulative -21.1bp, Nov'24 cumulative -29.2bp, Dec'24 -44.4bp
  • Today, there is little on teh data calendar with markets focusing on Fed speakers including Raphael Bostic, Christopher Waller, Philip Jefferson, Loretta Mester and Michael Barr.