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TY Respects Early Lows, Data Eyed

US TSYS

The Asia-London handover lows limit the weakness in TY futures, at least for now, with the contract printing as low 111-24, operating in a 0-09 range thus far.

  • The Dec 7 high (111-09+) presents the next meaningful area of technical support. The current pullback is still deemed corrective from a technical standpoint, even with the 20-day EMA giving way.
  • Cash Tsy yields are 1.5-2.5bp firmer on the day.
  • We went over 10-Year Tsy yield technicals earlier today, with the benchmark now a little over 4.00%.
  • FOMC-dated OIS now shows ~138bp of cuts through ’24, with the move away from recent dovish extremes extending over the last 24 hours.
  • The monthly NFP release, ISM services survey and another round of Fedspeak from Barkin provide the NY highlights today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
FOMC Calendar Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
FOMC Calendar Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

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