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US TSYS: US TSYS – Yields Lower, Playing Catch UP (Correction).

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Cash markets are playing catch up in Asia’s trading morning, digesting the Personal Consumption data from Tuesday and the anticipated pace of rate cuts from the FED.
  • Cash Bonds are 1.5bp- 2.5bp lower across the curve with intermediate maturities outperforming.
  • T4.25 ’26 at 4.213% (-1.5bp), T4.125 ’29 at 4.114% (-2.5bp) and T4.125% ’34 at 4.24% (-2.5bp).
  • The US 10YR Note Dec24 (TYZ4) opened at 110-23, and is marginally higher at 110-25.
  • With no economic data out tonight, the rally seems reflective of Thursday’s economic data, and particularly CORE PCE, being in line with market expectations. 
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  • Cash markets are playing catch up in Asia’s trading morning, digesting the Personal Consumption data from Tuesday and the anticipated pace of rate cuts from the FED.
  • Cash Bonds are 1.5bp- 2.5bp lower across the curve with intermediate maturities outperforming.
  • T4.25 ’26 at 4.213% (-1.5bp), T4.125 ’29 at 4.114% (-2.5bp) and T4.125% ’34 at 4.24% (-2.5bp).
  • The US 10YR Note Dec24 (TYZ4) opened at 110-23, and is marginally higher at 110-25.
  • With no economic data out tonight, the rally seems reflective of Thursday’s economic data, and particularly CORE PCE, being in line with market expectations.