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Treasury Yields Little Changed Ahead Of 30Y Auction

US TSYS
  • Jun'24 10Y futures are having another very quiet Asia trading session, ranges have remained very tight hitting lows on the open of 111-06, and now trade just off highs of 111-07+.
  • Looking at technicals, initial supports holds at 111-03+ (20-day EMA), below there 110-21 (Mar 4 low), to the upside, initial resistance is 112-04+ (Mar 8 highs) while above is 112-10+ (61.8% retracement of the Feb 1 - 23 bear leg)
  • Cash yields are little changed with the 2Y -0.2bp to 4.584%, 10Y -0.6bp to 4.145%, while the 2y10y is -0.375 at -44.135, after briefly making new YTD lows on Tuesday touching -48.635.
  • Looking ahead: Mortgage Applications and a Treasury bond sales the main focus is on Thursday's Retail Sales and PPI data.

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