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US TSYS: Tsys Futures Pare Earlier Gains

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Tsys futures are off session highs, and now trade slightly lower for the session. TU is -00⅝ at 102-18+ vs the overnight lows of 102-17⅝, TY is trading -01 at 109-12+ vs overnight lows of 109-10.
  • The trend structure in tsys is unchanged and conditions remain bearish. Last week’s move lower reinforces the downtrend and the contract is trading closer to its recent lows. A resumption of the bear leg would open 109-05 next, the 76.4% retracement of the Apr - Sep bull cycle (cont). The 109-00 handle remains exposed too. Initial firm resistance is seen at 111-29+, the 20-day EMA.
  • Cash tsys are trading about 0.5bps cheaper today. The 2yr is 4.342%, while the 10yr is 4.429% only 5bps off the highs made on Nov 6.
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  • Tsys futures are off session highs, and now trade slightly lower for the session. TU is -00⅝ at 102-18+ vs the overnight lows of 102-17⅝, TY is trading -01 at 109-12+ vs overnight lows of 109-10.
  • The trend structure in tsys is unchanged and conditions remain bearish. Last week’s move lower reinforces the downtrend and the contract is trading closer to its recent lows. A resumption of the bear leg would open 109-05 next, the 76.4% retracement of the Apr - Sep bull cycle (cont). The 109-00 handle remains exposed too. Initial firm resistance is seen at 111-29+, the 20-day EMA.
  • Cash tsys are trading about 0.5bps cheaper today. The 2yr is 4.342%, while the 10yr is 4.429% only 5bps off the highs made on Nov 6.