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Treasury Futures Trade Near Overnight Lows, Curve Slightly Steeper

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Treasury futures are slightly lower as we head into the mid-day break. There has been very little in the way of market headlines or economic data.

  • Ranges have been very tight and we trade near overnight lows. The 2Y contract is (- 00.375) at 101-21, while the 10Y contract is (- 02+) at 109-00+.
  • Volumes: TU 13k, FV31.5k, TY 52.5k
  • Looking at technicals, support holds at 108-27+/108-15 (50-day EMA / May 14 low), while resistance holds at 109-31+ (May 16 high)
  • The treasury curve is slightly steeper today, with yields 0.5bp lower to 0.5bp higher, the 2Y yield is -0.4bps at 4.843%, 10Y +0.2bp to 4.445%, while the 2y10y +0.835 at -40.041
  • Looking across APAC rate markets: ACGBs are 2-2.5bps higher, NZGBs 1-3bps higher, curve is steeper, JGBs yields are mixed, 0.5bps lower to 1bp higher.
  • Busy day ahead for fed speakers with Barkin, Waller, Williams, Collins, Bostic & Barr all speaking
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Treasury futures are slightly lower as we head into the mid-day break. There has been very little in the way of market headlines or economic data.

  • Ranges have been very tight and we trade near overnight lows. The 2Y contract is (- 00.375) at 101-21, while the 10Y contract is (- 02+) at 109-00+.
  • Volumes: TU 13k, FV31.5k, TY 52.5k
  • Looking at technicals, support holds at 108-27+/108-15 (50-day EMA / May 14 low), while resistance holds at 109-31+ (May 16 high)
  • The treasury curve is slightly steeper today, with yields 0.5bp lower to 0.5bp higher, the 2Y yield is -0.4bps at 4.843%, 10Y +0.2bp to 4.445%, while the 2y10y +0.835 at -40.041
  • Looking across APAC rate markets: ACGBs are 2-2.5bps higher, NZGBs 1-3bps higher, curve is steeper, JGBs yields are mixed, 0.5bps lower to 1bp higher.
  • Busy day ahead for fed speakers with Barkin, Waller, Williams, Collins, Bostic & Barr all speaking