US TSYS: Post-Buyback Update, Fresh Cycle Lows, Yield Rises to Oct '23 Highs
Sep-09 15:16
Treasury futures continue to extend lows after Tsy announces buy-back up to $6B longer dated debt.
TYZ6 taps 107-00 low, yield +.0605 at 4.8487 (highest since late October 2023). The move down maintains the price sequence of lower lows and lower highs and note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. Scope is seen for an extension towards 107-02+ next, a Fibonacci projection.