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Treasury Yields Open Steady Ahead of FOMC Minutes

US TSYS

TYH4 is currently trading at 109-28, down - 02 from New York closing levels
Treasury futures have opened largely unchanged as trading gets underway in Asia, yields are opening slightly higher out the long end of the curve

  • Mar'24 10Y Futures have opened largely unchanged in the first hour of trading as the market awaits FOMC minutes later today. We still sit below initial technical resistance at 110-17 (Feb 15 high), while technical support holds at 109-17/15 (50.0% of Oct 19 - Dec 27 climb / Low Feb 16).
  • Yield curves were steeper on Tuesday, and cash trading gets underway we are seeing a continuation of that trend, the 2Y is -0.2 lower at 4.610%, the 10Y yield +0.8bp higher at 4.283%, while the 2y10y is +0.786 at -33.113
  • Looking ahead later today - MBA Mortgage Applications, FOMC meetings minutes, Chicago Fed Nat Activity Index, Jobless Claims, S&P Global US PMI, and New & Existing Home Sales

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