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Treasury Futures Unchanged Early, Inflation To Take Longer To Fall

US TSYS
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  • Treasury futures are little changed this morning, the 10Y contract is unchanged at 109-07+, while the 2Y contract is also unchanged at 101-21.875. Ranges have been incredibly tight.
  • Volumes: TU 7.8k, FV 4.5k, TY 4.6k
  • The treasury bull-flattened on Tuesday, and we open trading on Wednesday unchanged, the 2Y yield -0.2bp at 4.826%, 10Y unchanged at 4.412%
  • Regionally: ACBGs & NZGBs yields are about 0.5bp lower, while JGBs are 0.5-1.5bps higher, focus will be on RBNZ and BI rate decisions
  • Earlier, the Fed's Bostic, Collins & Mester have been involved in a moderated discussion, with the key points from each; Bostic stated that the economy is incredibly resilient and that it will take longer for interest rates to influence decisions, Mester believes economic growth will be above trend this year, inflation will take longer to decrease, and current policy is well-positioned but needs monitoring while Collins emphasized the importance of patience in policy adjustments, noting that it will take longer to see progress and that a methodical, holistic approach is needed.
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  • Treasury futures are little changed this morning, the 10Y contract is unchanged at 109-07+, while the 2Y contract is also unchanged at 101-21.875. Ranges have been incredibly tight.
  • Volumes: TU 7.8k, FV 4.5k, TY 4.6k
  • The treasury bull-flattened on Tuesday, and we open trading on Wednesday unchanged, the 2Y yield -0.2bp at 4.826%, 10Y unchanged at 4.412%
  • Regionally: ACBGs & NZGBs yields are about 0.5bp lower, while JGBs are 0.5-1.5bps higher, focus will be on RBNZ and BI rate decisions
  • Earlier, the Fed's Bostic, Collins & Mester have been involved in a moderated discussion, with the key points from each; Bostic stated that the economy is incredibly resilient and that it will take longer for interest rates to influence decisions, Mester believes economic growth will be above trend this year, inflation will take longer to decrease, and current policy is well-positioned but needs monitoring while Collins emphasized the importance of patience in policy adjustments, noting that it will take longer to see progress and that a methodical, holistic approach is needed.