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Treasury Futures Steady, Yields Near Highs, Housing Data Later

US TSYS
  • Jun'24 10Y futures finished NY trading at 109-26 on Monday and are slightly higher after the first two hours of trading on Tuesday up + 02 at 109-28. 10Y futures briefly tapped a early morning low of 109-28 and made highs right on the open of 109-29+
  • Looking at technical levels, initial support is 109-25+ (Feb 23 and the bear trigger), below here 109-14+ (Nov 28 low). While to the upside, initial resistance is 110-30+ (Mar 14 high) above here 111-03+( 50-day EMA).
  • Cash yields were flat to 2bps higher on Monday and as trading gets underway curves are bear steepening with the 2Y is -0.2bp to 4.730%, 10Y +0.4bp to 4.328%, while the 2y10y is +.397 to -40.583.
  • Looking ahead the US calendar is empty today, with Building Permits & Housing starts on Tuesday focus this week will be on the FOMC on Thursday

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