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Tsys Futures Edge Higher, As Risk Assets Sell-Off, Bostic Sees One Cut

US TSYS
  • Jun'24 10Y have edged higher in the first few hours of trading on Friday, now up 0 +05 + at 107-28. Risk assets are weaker with US equity futures down about 0.50%, while USD & JPY tick higher.
  • Cash Treasuries yields have opened 1-2bps lower, with the 2Y yield -1.5bps at 4.971%, 10Y -1.6bps to 4.616%, while the 2y10y was -0.353 at -35.918.
  • The Fed's Bostic earlier spoke about the challenges of housing affordability and emphasized the importance of responding to inflation trends. He noted a gradual economic slowdown and wage growth outpacing inflation. Bostic expressed patience regarding reaching the 2% inflation target and reiterated his expectation for one rate cut this year.
  • Looking ahead: There is no economic data to report Friday while Chicago Fed Goolsbee will participate in a moderated Q&A at a SABEW conference (1030ET) ahead of the Fed blackout late Friday.
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