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Treasury Futures Steady, Surprise Index At Multi Year Lows

US TSYS
  • Treasury futures are steady this morning, TU is trading at 102-02¾, while TY is has seen buying at 110-00 to 110-00+ and now trades unchanged at 110-00+.
  • Volumes: TU 10k, FV 21.5k, TY 31.5k
  • The 5-10y tenors have been the best performing part of the curve over the past week with the 10y yield has rallying 30bps in the past four trading sessions. Rate cut projections continue to gain, while the BBG Surprise Index reaches multi year lows.
  • Cash treasuries are 0.5bps-1.5bp higher, the 2Y +0.8bps to 4.778%, the 10Y +1.2bps at 4.338%.
  • APAC Rates: ACGB yields are 6-9bps lower, curve flatter, NZGB yields 1-5bps lower, JGB yields a flat to 3bps lower, with the 10Y yield back below 1%.

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