A Touch Flatter On Election Interference Talk, Fiscal Deal Elusive

T-Notes continue to hold to the 0-04 range that was established relatively early in the overnight session, with macro headline flow light in Asia-Pac hours, outside of the comments from the U.S. security service which pointed to Russian & Iranian efforts to interfere in the upcoming U.S. election. The DC fiscal impasse also continues to bubble in the background, with talks set to continue on Thursday. Contract last -0-01 at 138-17+, with the curve bull flattening on the aforementioned election intervention story, as cash Tsys sit unchanged to 1.9bp richer across the curve.

• Fiscal dynamics drove the space during NY hours, with the curve bear steepening as longer dated yields extended through their recent range tops. Wednesday's 20-Year auction was solid enough, stopping virtually on the screws, with an in line with average cover ratio, and a slightly below average dealer takedown.
• Eurodollar futures are virtually unchanged through the reds, with the only real flow of note coming in the form of upside exposure via EDZ1 100.00 calls.
• Weekly Jobless claims headlines the U.S. economic docket on Thursday. Elsewhere, Fedspeak from Barkin & Kaplan is due, and we will also see 5-Year TIPS supply. That all comes before the final Trump-Biden debate.