US TSY FUTURES: Treasury Futures Extend Decline on Musk Headline
Apr-02 15:35
Treasury futures extend session lows - retreating to early overnight levels after Politico headlines announce that Elon Musk will step back from "governing partner" role in the next few weeks. Several new outlets have announced over the last couple days that Musk would be stepping down from DOGE by the end of May.
Treasuries Jun'25 10Y contract trades 111-18 (-7) vs. 111-15 low, technical support below at 110-26.5 (20-day EMA).
Curves mildly flatter, off early week highs: 2s10s -.127 at 28.245, 5s30s -0.609 at 59.195.
Cross asset update: stocks bounce (SPX eminis +26.5 at 5701.00).Bbg US$ index -2.24 at 1270.04.
OPTIONS: Expiries for Apr03 NY cut 1000ET (Source DTCC)