September 11, 2023 12:02 GMT
What to Watch
US TSYS
- Treasury curves are bear steepening this morning (2Y10Y +4.239 at -68.836) with Bonds leading an overnight selloff. Pressure partly attributed to hawkish BOJ comments regarding yield curve control over the weekend.
- Overnight, Dec'23 10Y futures marked 109-20 low - just off last Thursday's 109-20 low - initial technical support. An extension lower would signal scope for 109-09+, Aug 22 low and a bear trigger. A break of this level would strengthen a bearish theme.
- Scant data to kick off the new week, Fed in policy blackout, while US Treasury coupon auctions resume with $44B 3Y Note this afternoon.
- Headline watching: Wires reporting that North Korean leader Kim Jong-un has departed North Korea ahead of an expected meeting with Russian President Vladimir Putin which may take place as soon as tomorrow.
- Anything on US government funding with federal agencies estimated to run out of money on September 30.
145 words