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What to Watch: Tsys Extending Lows

US TSYS
  • Cash Treasuries extending lows in the lead-up to the NY open, Jun'23 10Y futures through yesterday's low of 111-02.5 to 111-00.5 (-5),next technical support at 110-21 (Low Mar 4).
  • No obvious headline driver, just carryover weakness following Tuesday's higher than hoped for CPI inflation data. Tsy 10Y yield climbs to 4.1801%, curves near steady to late Tuesday levels, 2s1s -.182 at -43.942.
  • Limited data on the day released earlier: MBA Mortgage Applications at 7.1% vs. 9.7% prior. Main focus on PPI and Retail sales on Thursday.
  • No Fed speakers, in blackout until March 21.
  • Treasury auctions: $60B 17W bill auction at 1130ET, $39B 30Y reopen at 1300ET.

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