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TY Eyes Support Cluster

US TSYS

Cross currents surrounding European PMI data garner most of the attention in early London trade, with a downtick in TY futures failing to breach yesterday’s base.

  • The contract last trades at 109-19+, -0-00+ on the day.
  • Volume runs at ~408K, although that is boosted by ~125K of roll-related spread activity.
  • Initial support in the contract comes in at the clustered 109-18 to 15 area, with bears remaining in control from a technical perspective.
  • A breach of that zone would expose the Nov 28 low (109-05+).
  • Cash Tsy yields are little changed to 1bp higher on the day.
  • European PMIs, yesterday’s soft 20-Year auction, FOMC QT tapering speculation & Nvidia earnings dominate discussions early today.
  • Looking ahead to U.S. hours, focus will fall on a raft of Fedspeak, flash PMI prints and weekly jobless claims data.
  • We will also get 30-Year TIPS supply.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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