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US TSYS: Tsys Futures Steady, Stopgap Funding Vote Ongoing

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Tsys futures are trading steady today, TU is unchanged at 102-22⅛ while TY is +03+ at 108-23. A bearish short-term theme in Treasury futures remains intact and Wednesday’s move lower reinforces the current trend condition. The TY contract has traded through key short-term support and the bear trigger at 109-02+, the Nov 15 low. The breach confirms a resumption of the downtrend and opens 108+12+, a Fibonacci projection. On the upside, initial firm resistance is at 110-13, the 20-day EMA.
  • Cash tsys are trading flat to 1.5bps lower so far today, with the 5 & 7yr tenors outperforming. The 2yr is trading -0.2bps at 4.314%, while the 10yr is -0.8bps at 4.492%, the 2s10s remains near its steepest levels since June 2022 at +24bps.
  • There is an ongoing vote happening for the stopgap funding, however so far lack the votes to pass.
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  • Tsys futures are trading steady today, TU is unchanged at 102-22⅛ while TY is +03+ at 108-23. A bearish short-term theme in Treasury futures remains intact and Wednesday’s move lower reinforces the current trend condition. The TY contract has traded through key short-term support and the bear trigger at 109-02+, the Nov 15 low. The breach confirms a resumption of the downtrend and opens 108+12+, a Fibonacci projection. On the upside, initial firm resistance is at 110-13, the 20-day EMA.
  • Cash tsys are trading flat to 1.5bps lower so far today, with the 5 & 7yr tenors outperforming. The 2yr is trading -0.2bps at 4.314%, while the 10yr is -0.8bps at 4.492%, the 2s10s remains near its steepest levels since June 2022 at +24bps.
  • There is an ongoing vote happening for the stopgap funding, however so far lack the votes to pass.