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Treasury Futures Steady, Curves Slightly Steeper

US TSYS
  • Jun'24 10Y are largely unchanged from earlier trading at 110-02+, +05 from NY closing levels and just off earlier highs of 110-03. There has been little in the way of market headlines, while ranges are well within Mondays.
  • Looking at technical levels: Initial support lays at 109-24+ (March 18 low and bear trigger) while below here the 109-14+ (Nov 28 low). While to the upside resistance holds at 110-31/31+ (50-day EMA / Mar 27 high), above here 111-10+ (Mar 13 high).
  • Cash Treasury have reversed some of Monday's moves, with curves slightly bull-steepening, the 2Y yield is -1.9bps at 4.691%, 10Y -0.6bps to 4.301%, while the 2y10y +1.067 at -38.548
  • Looking Ahead: JOLTS, Durable/Factory Orders, Fed Speak

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