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Tsys Futures Off Earlier Lows

US TSYS
  • Treasury futures have opened lower this morning, some profit taking has occurred along side weakness in the 10y French bond futures after a messy outcome from the second round of voting, OATU4 is trading -0.29 ticks, which equates to about 3.05bps move higher in yields. Tsys futures have since pared some earlier losses to now be trading; TU is - 01⅜ at 102-09¼, while TY is - 05 at 110-14+.
  • Volumes are above averages, TU 36k, FV 105k, TY 128k
  • Tsys flows: Block Seller belly FV, UXY, WN Fly - DV01 626k. FV/TY Block Steepener DV01 190k
  • The Cash treasury curve have widen today, with yields about 1.5bps higher. The 2y is +1.5bps at 4.618%, 7yr +1.6bps at 4.245%, while the 10y +1.4bps at 4.292%.
  • Looking ahead, NY Fed 1-Yr Inflation Expectations & Consumer Credit.

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