G7: G7 Attendees Discussed Lowering Russia Oil Price Cap To $50 - Dombrovskis
Reuters reporting comments from EU Commissioner for Trade, Valdis Dombrovskis, providing an update o...
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OPTIONS: Larger FX Option Pipeline
- USD/JPY: Apr24 Y140.00($1.6bln); Apr28 Y140.00($1.1bln)
- USD/CAD: Apr25 C$1.3800($1.9bln), C$1.4000($1.6bln)
US 10YR FUTURE TECHS: (M5) Recent Gains Are Considered Corrective
- RES 4: 113-04 76.4% retracement of the Apr 7 - 11 bear leg
- RES 3: 112-12 61.8% retracement of the Apr 7 - 11 bear leg
- RES 2: 111-25 50.0% retracement of the Apr 7 - 11 bear leg
- RES 1: 111-01+/17+ 20-day EMA / High Apr 16
- PRICE: 110-28+ @ 16:45 BST Apr 22
- SUP 1: 110-15/109-08 Low Apr 15 / 11 and the bear trigger
- SUP 2: 108-26+ 76.4% retracement of the Jan 13 - Apr 7 bull cycle
- SUP 3: 108-21 Low Feb 19
- SUP 4: 108-03+ Low Dec 12 ‘24 and a key support
Treasury futures have pulled back from last week’s highs. For now, recent gains are considered corrective and the bear cycle that started Apr 7, remains in play. The next resistance to watch is 111-25, 50.0% of the Apr 7 - 11 bear leg sell-off. For bears, a resumption of weakness would refocus attention on 109-08, the Apr 11 low and the bear trigger. Clearance of this level would resume the downtrend.
US TSY FUTURES: Extending Highs, Curves Maintain Flatter Profile
Treasury futures are taking another leg higher in the last few minutes, Jun'25 5Y now steady at 108-11.5 vs. 108-03.25 low. No obvious headline driver.
Curves maintain flatter profile, 2s10s -4.349 at 59.852, short end under pressure ahead of this afternoon's $69B 2Y Note auction (91282CMY4).
