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Treasury Futures Steady Ahead Thursday PPI & Retail Sales

US TSYS
  • Jun'23 10Y futures has done very little in the first two hours of trading in Asia, lows of 110-28+ and highs of 110-30 we trading unchanged at 110-29 now.
  • Looking at technical levels, initial supports holds at 110-03+ (Mar 13 low), below there 110-21 (Mar 4 low), to the upside, initial resistance is 112-04+ (Mar 8 highs) while above is 112-10+ (61.8% retracement of the Feb 1 - 23 bear leg)
  • Treasury curves bear flattened on Wednesday with yields 2-6bps higher. As trading gets underway in Asia the 2Y is +0.2+ at 4.637%, 10Y is unchanged at 4.190% while the 2y10y is -0.211 at -44.888
  • Speaker of the House Mike Johnson, was speaking earlier around Aid for Ukraine, the need for the US to spend more on Defense and will push the senate to vote on the Tiktok bill.
  • Looking ahead: Retail Sales, PPI and Job Claims out later Today

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