US 10YR FUTURE TECHS: (U5) Bearish Threat Still Present
Jun-11 15:53
- RES 4: 111-30 76.4% retracement of the May 1 - 22 downleg
- RES 3: 111-19+ 1.0% 10-dma envelope
- RES 2: 111-14+ High Jun 5 & 61.8% of the May 1 - 22 downleg
- RES 1: 110-19+/20+ 50-day EMA / Jun 11 High
- PRICE: 110-15 @ 16:44 BST Jun 11
- SUP 1: 109-26 Low May 29
- SUP 2: 109-12+ Low May 22 and the bear trigger
- SUP 3: 109-09+ Low Apr 11 and key support
- SUP 4: 108-25+ 0.764 proj of the Apr 7 - 11 - May 1 price swing
The recent reversal in Treasury futures was partially erased Wednesday on the back of the soft US CPI print, keeping markets cognizant of the underlying bullish theme for Treasury prices. Key short-term resistance remains 111-14+, a Fibonacci retracement and the Jun 5 high. Clearance of this hurdle would be bullish. First resistance at the 110-19+ 50-day EMA has been pierced. Any extension lower would expose support at 109-26, the May 29 low, where a break would open key support and the bear trigger, at 109-12+, the May 22 low.
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OPTIONS: Larger FX Option Pipeline
May-12 15:46
- EUR/USD: May14 $1.1150-65(E1.3bln), $1.1390-10(E1.9bln); May15 $1.1000(E1.0bln), $1.1090-00(E3.2bln), $1.1385-90(E1.2bln), $1.1410(E1.0bln); May16 $1.1200(E2.4bln)
- USD/JPY: May15 Y145.00($2.0bln); May16 Y145.00-20($1.2bln)
- AUD/USD: May15 $0.6475(A$1.2bln)
- NZD/USD: May15 $0.5880(N$1.0bln)
- USD/CAD: May16 C$1.3975-85($1.2bln)
- USD/CNY: May15 Cny7.3000($1.2bln)
STIR: SOFR May'25 Midcurve Put Buyer
May-12 15:35
- +15,000 0QK5 96.25 puts, 0.5 ref 96.55
FED: US TSY 13W BILL AUCTION: HIGH 4.300%(ALLOT 65.34%)
May-12 15:32
- US TSY 13W BILL AUCTION: HIGH 4.300%(ALLOT 65.34%)
- US TSY 13W BILL AUCTION: DEALERS TAKE 46.63% OF COMPETITIVES
- US TSY 13W BILL AUCTION: DIRECTS TAKE 4.70% OF COMPETITIVES
- US TSY 13W BILL AUCTION: INDIRECTS TAKE 48.67% OF COMPETITIVES
- US TSY 13W BILL AUCTION: BID/CVR 2.51
