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Tsys Extending Highs With Chairman Powell Underway

US TSY FUTURES
  • Tsy futures had continued to extend gains after the initial FOMC annc, TYH4 through resistance of 111-19 (1.236 proj of the Oct 19 - Nov 3 - Nov 13 price swing) to 111-22.5 high (+1-05) to 111-23.5 high (+1-06).
  • Chairman Powell press conference is underway, futures holding gains as he notes "Inflation has eased over the past year -- but remains above our longer-run goal of 2%." Powell adds "that the process of getting inflation all the way to 2% will take some time. The median projection in the SEP is 2.8% this year, falls to 2.4% next year, and reaches 2% in 2026."
  • Next resistance level: 112-03 1.382 proj of the Oct 19 - Nov 3 - Nov 13 price swing.
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