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2-/5-Yr Yields Touch Cycle Highs Ahead Of Payrolls

US TSYS

10Y yields have come within half a basis point of 1.60% overnight, with yields globally on the rise ahead of the much-anticipated nonfarm payrolls report.

  • Fresh post-Jun 2021 highs for 10s and 30s yields, with 2s and 5s briefly touching cycle highs in an unusually busy morning session ahead of NFPs.
  • The 2-Yr yield is up 1.4bps at 0.3198%, 5-Yr is up 1.7bps at 1.0384%, 10-Yr is up 1.4bps at 1.5873%, and 30-Yr is up 1.6bps at 2.1422%.
  • Dec 10-Yr futures (TY) down 5/32 at 131-7.5 (L: 131-04 / H: 131-11)
  • Sept Employment Report at 0830ET is of course the highlight of the schedule; we'll send out our preview again shortly. Wholesale inventories the only other data item at 1000ET.
  • Pres Biden comments on the jobs report at 1130ET.
  • No Tsy supply. NY Fed buys ~$12.425B of 0-2.25Y Tsys.

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