US 10YR FUTURE TECHS: (U5) Support Intact For Now
* RES 4: 112-23 High May 1 and key resistance * RES 3: 112-15 61.8% retracement of the Apr 7 - 11 se...
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PIPELINE: Corporate Bond Update: $4.2B Brown & Brown 6pt Launched
- Date $MM Issuer (Priced *, Launch #)
- 06/11 $4.2B #Brown & Brown 6pt: $400M 1.5Y +65, $500M 3Y +80, $800M 5Y +92, $500M 7Y +107, $1B 10Y +117, $1B 30Y +135
- 06/11 $Benchmark Citadel Securities 5Y +180a, 10Y +200a
- 06/11 $Benchmark Export Development Canada (EDC) 5Y SOFR+45a
- 06/11 $700M Unisys 5.5NC2.5
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US 10YR FUTURE TECHS: (U5) Bearish Threat Still Present
- 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.
