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US TSY FUTURES: Extending Highs, Post-Data Sales Evaporate

US TSY FUTURES
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • This morning's post-PPI/claims knee jerk selling ran it's course with Treasury futures rebounding, marking new session highs in the last few minutes. European desks point to EGBs initially leading the rebound.
  • At the moment, Dec'24 10Y futures trade 109-18.5 (+5) vs. 109-19.5 high, still well below initial technical resistance at 110-21 (20-day EMA).
  • Projected rate cuts into early 2025 have yet to react to the latest move after moderating vs. late Wednesday levels (*) : Dec'24 cumulative -19.8bp (-20.6bp), Jan'25 -27.8bp (-29.1bp), Mar'25 -42.4bp (-43.5bp), May'25 -49.9bp (-50.4bp).
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  • This morning's post-PPI/claims knee jerk selling ran it's course with Treasury futures rebounding, marking new session highs in the last few minutes. European desks point to EGBs initially leading the rebound.
  • At the moment, Dec'24 10Y futures trade 109-18.5 (+5) vs. 109-19.5 high, still well below initial technical resistance at 110-21 (20-day EMA).
  • Projected rate cuts into early 2025 have yet to react to the latest move after moderating vs. late Wednesday levels (*) : Dec'24 cumulative -19.8bp (-20.6bp), Jan'25 -27.8bp (-29.1bp), Mar'25 -42.4bp (-43.5bp), May'25 -49.9bp (-50.4bp).