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Weaker But Off Recent Lows

US TSY FUTURES

Rather decent volumes (TYZ0 near 400k already) as futures have slipped back to mid-early June levels. Technicals: move lower confirmed a resumption of the down-leg that started Aug 4 and clears way for a continued move lower. This has opened 138-04+ next, a Fibonacci projection ahead of 138-00. Also, there is a bear channel base that intersects at 138-01+ today that could provide firm support. The channel is drawn off the Aug 4 high.

  • 3M10Y -0.066, 76.429 (L: 74.406 / H: 77.103)
  • 2Y10Y +0.175, 70.266 (L: 69.191 / H: 71.136)
  • 2Y30Y -0.076, 151.951 (L: 150.901 / H: 152.996)
  • 5Y30Y -0.245, 129.683 (L: 129.1 / H: 130.493)
  • Current futures levels:
  • Dec 2Y steady at 110-13 (L: 110-12.875 / H: 110-13.5)
  • Dec 5Y down 0.75/32 at 125-17.5 (L: 125-16.75 / H: 125-20)
  • Dec 10Y down 2.5/32 at 138-8 (L: 138-06.5 / H: 138-13)
  • Dec 30Y down 11/32 at 172-0 (L: 171-25 / H: 172-11)
  • Dec Ultra 30Y down 26/32 at 212-29 (L: 212-17 / H: 213-21)

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