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US TSYS: Tsys Futures Steady, Ranges Narrow

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Tsys futures are trading little changed today, with little in the way of data tonight, expect ranges to remain narrow. TU is -00+ at 102-31⅜, TY is also -00+ at 110-11+.
  • Looking at techs, a bull phase in TY remains in play, however, a corrective cycle has resulted in a pullback from recent highs. The contract has again traded lower today. An extension would open 110-02, a Fibonacci retracement point. A breach of 110-02 would strengthen a bearish theme. For bulls, a reversal higher would refocus attention on key resistance at 111-20+, the Dec 6 high. Clearance of this level would resume the recent bull cycle.
  • Cash tsys have seen a decent steepening move over the week, with the 2s10s very briefly inverting on Dec 6 to trade at 13.152 now. The 2yr yield has risen 8bps over the past week to now trade 4.184%, while the 10yr is trading 16.5bps higher this week at 4.318%.
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  • Tsys futures are trading little changed today, with little in the way of data tonight, expect ranges to remain narrow. TU is -00+ at 102-31⅜, TY is also -00+ at 110-11+.
  • Looking at techs, a bull phase in TY remains in play, however, a corrective cycle has resulted in a pullback from recent highs. The contract has again traded lower today. An extension would open 110-02, a Fibonacci retracement point. A breach of 110-02 would strengthen a bearish theme. For bulls, a reversal higher would refocus attention on key resistance at 111-20+, the Dec 6 high. Clearance of this level would resume the recent bull cycle.
  • Cash tsys have seen a decent steepening move over the week, with the 2s10s very briefly inverting on Dec 6 to trade at 13.152 now. The 2yr yield has risen 8bps over the past week to now trade 4.184%, while the 10yr is trading 16.5bps higher this week at 4.318%.