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US TSY FUTURES: Wednesday Rally Consolidated

US TSY FUTURES
USBulletMarketsFixed Income BulletsNorth America
  • TYH5 closed at 110-29 (unch) just a touch off earlier highs of 110-30 having lifted from session lows of 110-23.  
  • Yesterday’s high of 111-01, seen after an extended move following the strong 7Y auction, marks initial resistance after which lies 111-14 (50-day EMA).
  • Gains are considered corrective though, with support seen at 109-20 (Nov 20/21 lows).
  • Tomorrow sees cash markets back open again ahead of a 1400ET close whilst Tsy futures see at an early close at 1315ET.
  • Unsurprisingly little change in Fed Funds implied rates today, showing 16bp of cuts for Dec before a cumulative 22bp for Jan, 35bp for Mar and 52bp for June.  
  • SOFR futures echo the little change in the whites before up to 2.5 ticks lower in the reds. 
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  • TYH5 closed at 110-29 (unch) just a touch off earlier highs of 110-30 having lifted from session lows of 110-23.  
  • Yesterday’s high of 111-01, seen after an extended move following the strong 7Y auction, marks initial resistance after which lies 111-14 (50-day EMA).
  • Gains are considered corrective though, with support seen at 109-20 (Nov 20/21 lows).
  • Tomorrow sees cash markets back open again ahead of a 1400ET close whilst Tsy futures see at an early close at 1315ET.
  • Unsurprisingly little change in Fed Funds implied rates today, showing 16bp of cuts for Dec before a cumulative 22bp for Jan, 35bp for Mar and 52bp for June.  
  • SOFR futures echo the little change in the whites before up to 2.5 ticks lower in the reds.