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Treasury Futures Off Earlier Lows

US TSYS

Treasury futures are just off the earlier lows, back to pre-FOMC minute levels.


  • Mar'24 10Y futures are trading in a small range in Asia, currently 109-23, up + 03, to sit just above Wednesday lows of 109-18. Initial technical support holds at 109-17/16+ (50.0% of Oct 19 - Dec 27 climb / Low Feb 14), a break here will open up 109-05+ Low Nov 28, while to the upside initial technical resistance sits at 110-17.5 (Feb 15 high).
  • Yield curves opened Asia trading slightly steeper, that move has now been erased as the curve trades 1-2bps lower in yield terms. Currently the 2Y yield is -1.9bps lower at 4.647%, 10Y yield is -2bp lower at 4.299%, while the 2s10s -0.046 at -34.998.
  • Biden stated earlier that he would support a 28% minimum tax for corporations.
  • Looking ahead: Chicago Fed Nat Activity Index, Jobless Claims, S&P Global US PMI & Existing Home Sales
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