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US TSYS: US 10yr tests the Yield resistance

US TSYS
  • Given the 112.15 print in TYZ4, this means that the 10yr has now just tested above that 4.0204% level (8th August high), but still finding some demand in Futures here, TYA, FVA, TUA are all bought.
  • EGBs are lagging, the US takes the lead.
  • Looking further out for TYZ4, a clear break through 112.15, some Desks will look at the 112.00 next.
  • But In Yield, next upside extension would be seen at 4.1243%, would equate to 111.23+.
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  • Given the 112.15 print in TYZ4, this means that the 10yr has now just tested above that 4.0204% level (8th August high), but still finding some demand in Futures here, TYA, FVA, TUA are all bought.
  • EGBs are lagging, the US takes the lead.
  • Looking further out for TYZ4, a clear break through 112.15, some Desks will look at the 112.00 next.
  • But In Yield, next upside extension would be seen at 4.1243%, would equate to 111.23+.