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Weak Start

US TSY FUTURES

Trading weaker across the curve but off pre-open lows, apparently under pressure due to rebound in global equities (ESZ0 +46.5) on hopes of EU/UK Brexit negotiations. Mixed overnight flow included FCB buying short end, fast$ 2-way out the curve, interest in 5s and 10s vs. 30s steepeners. Yld curves are bear steepening on open.

  • 3M10Y +1.059, 56.614 (L: 55.048 / H: 57.36)
  • 2Y10Y +1.117, 53.473 (L: 51.998 / H: 53.966)
  • 2Y30Y +1.807, 128.785 (L: 126.461 / H: 129.109)
  • 5Y30Y +1.845, 115.021 (L: 112.854 / H: 115.123)
  • Current futures levels:
  • Dec 2Y -0.25/32 at 110-14.875 (L: 110-14.75 / H: 110-15.25)
  • Dec 5Y down 1/32 at 126-1.25 (L: 126-00.5 / H: 126-02.25)
  • Dec 10Y down 2/32 at 139-18.5 (L: 139-16.5 / H: 139-21)
  • Dec 30Y down 9/32 at 176-24 (L: 176-19 / H: 177-06)
  • Dec Ultra 30Y down 25/32 at 222-29 (L: 222-23 / H: 223-30)

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