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Treasury Futures Unchanged, Trade In Tight Ranges

US TSYS
  • Jun'24 10Y futures briefly traded below the lows from Friday of 109-31 touching 109-30+, before reversing course to make new highs for the day of 110-04+, ranges have remained well within Friday's as we trade at 110-03 unchanged from NY closing levels.
  • 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).
  • Treasury curve is flatter today, after initially opening 1-2bps higher yields now trade flat to 1bps lower across the curve. The 2Y is -0.8bp to 4.719%, 10Y -0.6bp to 4.300, while the 2y10y is +0.253 at -42.086 .
  • Looking ahead the US calendar is empty today, with Building Permits & Housing starts on Tuesday main focus this week will be on the FOMC on Thursday

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