Treasury Futures Rise On Low Volume Ahead of Busy US Data Calendar

TYH4 is currently trading at 110-04+, up + 04 from New York closing levels.
Treasury futures are just off highs of the day as we head into the Asia lunch break, there has been very little in the way of notable market headlines.

• Mar'24, 10Y futures opened near lows of the day at 110-00+, and have been grinding higher throughout the Asia Session, hitting highs of 110-07+, as we break for Asia lunch we trade just off the highs at 110-04+, while volumes still remain on the lower side.
• Key levels to watch heading into a busy US session for Data include initial support at 109-17 (50.0% of the Oct 19 - Dec 27 bull phase). A break below here could open up new yearly lows and a test of 109-05+ (lows of Nov 28). To the upside, initial resistance lies at 110-16 (the lows from Feb 9th), while a break above opens up a move to 111-06 (20-day EMA).
• Cash yields are 1-3bps richer across the curve, as the bear flattening theme continues from the US session. The 2Y yield is -1.0bp lower at 4.569%, while the 10Y yield is -2bp lower at 4.236%.
• Post the US Close, Fed's VC Barr discussed the economy and recent data, noting that January's data was stronger than expected. High-interest rates are dampening both sales and purchases of homes. However, he emphasized that the data is on a good path, but it is still too early to determine if there will be a soft landing.
• Later today weekly Claims, Retail Sales, Imp/Exp$, IP/Cap-U, TIC Flows are due out. While Fed speak includes Fed Gov Waller on the US$ international role at 13:15 ET, and Atlanta Fed Bostic on monetary policy (text, Q&A) later in the evening at 19:00 ET.