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Yields Grind Lower, Yellen To Testify

US TSYS

TYH4 is currently trading at 110-05, - 00+ from New York closing levels.


An uneventful session today, with the only thing of note being BoJ Deputy Governor Uchida's comments on financial conditions and interest rates. It, however, hasn't shed too much light on when the end of NIRP will come.

  • Treasuries futures have been trading in a very small range of 111-03 lows/ 111-07+ highs, Key support lies at 110-22+, the February 5th lows, with resistance at 111-20, the 20-day EMA.
  • Cash yields opened 1bp lower and have drifted just a touch to be 1.5-2bps lower for the day, the 2Y yield -1.5bp at 4.414%, the 10Y yield trade -1.7bp at 4.104% while the 2y10y, is -1.7 at -31.80.
  • US Secretary Treasury Janet Yellen will testify on the 2023 Financial Stability Oversight Council annual report, at 9am ET Thursday.
  • Thursday Data Calendar: Weekly Claims, Fed Speak, 30Y Bond Sale.
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