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Weaker Vs. Better Equities Headed Into Election

US TSY FUTURES

Tsy futures trading weaker, off late overnight lows, curves steeper with long end outperforming. Equities firmer (ESZ0 +40.0) w/ German DAX stronger as well (+225.0). Average FI volumes (TYZ w/285k) as market awaits results of Presidential election later this evening (polling closing times vary, most start at 1900ET). Cross current positioning flow with a risk-on tone, earlier Block buy 4k Dec Ultra-10Y 157-01.

  • 3M10Y +1.887, 77.076 (L: 75.471 / H: 77.753)
  • 2Y10Y +2.168, 70.472 (L: 68.951 / H: 71.656)
  • 2Y30Y +2.901, 148.497 (L: 145.593 / H: 149.814)
  • 5Y30Y +1.914, 125.897 (L: 123.501 / H: 126.966)
  • Current futures levels:
  • Dec 2Y -0.37/32 at 110-12.62 (L: 110-12.5 / H: 110-13.12)
  • Dec 5Y down 1.75/32 at 125-17.5 (L: 125-17 / H: 125-19.75)
  • Dec 10Y down 4.5/32 at 138-5 (L: 138-02.5 / H: 138-11)
  • Dec 30Y down 18/32 at 172-6 (L: 171-29 / H: 172-28)
  • Dec Ultra 30Y down 31/32 at 214-26 (L: 214-06 / H: 216-02)

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