US TSY FUTURES: Extending Session Highs, US$ Index Declines
Jan-24 16:01
- Treasury futures are extending session highs in the minutes after the large 5Y30Y-ultra steepener Block (+34,000 FVH5 106-05, buy through 106-04.75 post time offer vs. -7,700 WNH5 117-16, well through the 117-20 post time bid).
- No particular headline driver for the latest move, Gilts are however climbing ahead of the weekend.
- Curves scaling back from steeper levels (2s10s +1.063 at 36.096 vs. 38.045 high) as intermediates to long end lead charge, however, TYH5 +8.5 at 108-20.5, focus on initial technical resistance at 109-04/109-06 (High Jan 21 / High Dec 31).
- Coincides with Bbg US$ index falling to 1293.12 (-8.75), Gold remains well bid around 2776.46.
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