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Treasury Futures Steady, Fed's Mester & Bowman Speaking In Tokyo

US TSYS
  • Treasury futures have traded in tight ranges today, TU is + 00.875 at 101-15+, while TY is + 02+ at 108-25.
  • Tsys Flow: Block seller of FV at 105-28
  • Cash treasury curve is slightly steeper today with the 2y -1.1bps at 4.935%, while the 10Y is -0.6bp at 4.459%, the 2y10y remains below the trend line and the 200-day EMA, but 1bps higher than recent lows at -47.75bps, vs Dec lows of -56bps
  • Across local rate markets: ACGB curve is flatter, yields are 0.5-1.5bps lower, NZGB curve is little changed, yields are about 3bps higher, while JGB curve is slightly steeper, yields are flat to 2bps higher with the 10Y now 1.031%.
  • Currently, The Fed's Bowman & Mester, and the ECB's Schnabel are speaking at the BOJ-IMES event in Tokyo
  • Today, FHFA House Price Index, Conf. Board Consumer Confidence & Dallas Fed Manf. Activity

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