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US TSYS: Tsys Yields Richer, 10yr Makes New YTD Lows

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Tsys futures are trading higher in early morning trading, with most contracts trading above Thursday's highs. TU is +02¾ at 103-12⅞, while TY is +10+ at 110-31
  • A bullish cycle in Treasury futures remains in play. The TY contract has pierced resistance at 110-20, the 76.4% retracement of the Dec 3 - Jan 13 bear leg. A clear break of this level would broaden the bullish recovery and signal scope for a climb towards the 111-00 handle, ahead of 111-22+, the Dec 3 high and a key resistance. Initial firm support to monitor is 109-13, the 50-day EMA. Clearance of this level would highlight a potential reversal.
  • Cash tsys have opened 1-2.5bps richer, with the belly of the curve outperforming. The 10yr is -1.9bps at 4.241% and now trades at new YTD lows.
  • Trump announced the resumption of trade negotiations with the UK during a joint press conference with British PM Keir Starmer, hinting at a swift deal to shield the UK from his proposed tariffs. The talks, which aim to forge a robust trade agreement, come as a relief to Starmer, who is navigating economic challenges and seeking to balance relations with both the US and the EU, while also addressing a potential Ukraine peace deal. Though details remain vague, Trump expressed optimism about reaching an agreement soon.
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  • Tsys futures are trading higher in early morning trading, with most contracts trading above Thursday's highs. TU is +02¾ at 103-12⅞, while TY is +10+ at 110-31
  • A bullish cycle in Treasury futures remains in play. The TY contract has pierced resistance at 110-20, the 76.4% retracement of the Dec 3 - Jan 13 bear leg. A clear break of this level would broaden the bullish recovery and signal scope for a climb towards the 111-00 handle, ahead of 111-22+, the Dec 3 high and a key resistance. Initial firm support to monitor is 109-13, the 50-day EMA. Clearance of this level would highlight a potential reversal.
  • Cash tsys have opened 1-2.5bps richer, with the belly of the curve outperforming. The 10yr is -1.9bps at 4.241% and now trades at new YTD lows.
  • Trump announced the resumption of trade negotiations with the UK during a joint press conference with British PM Keir Starmer, hinting at a swift deal to shield the UK from his proposed tariffs. The talks, which aim to forge a robust trade agreement, come as a relief to Starmer, who is navigating economic challenges and seeking to balance relations with both the US and the EU, while also addressing a potential Ukraine peace deal. Though details remain vague, Trump expressed optimism about reaching an agreement soon.