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US TSYS: All Quiet Ahead of NFP.

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Cash bonds very quiet in Asian trading today with yields up 1bp in front end and lower 1bp in intermediate and longs.
  • US2YR 4.156% (+1BP), 5YR 4.079% (+0.2bp),  10YR 4.176% (-0.2bp),  30YR 4.327% (-0.9bp)
  • Futures were very quiet with small volumes and little movement from where they started at 111-04 for the US10YR Mar25 contract.
  • Projected rate cuts into early 2025 have cool slightly, current levels vs. this morning (*) as follows: Dec'24 cumulative -18bp, Jan'25 -24.5bp, Mar'25 -39.5bp, May'25 -49.6bp.
  • Non-Farm Payroll expectations tonight are for 220k, and reminder, the Federal Reserve enters their self-imposed blackout period at midnight Friday through December 19, the day after the final FOMC policy announcement for 2024.
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  • Cash bonds very quiet in Asian trading today with yields up 1bp in front end and lower 1bp in intermediate and longs.
  • US2YR 4.156% (+1BP), 5YR 4.079% (+0.2bp),  10YR 4.176% (-0.2bp),  30YR 4.327% (-0.9bp)
  • Futures were very quiet with small volumes and little movement from where they started at 111-04 for the US10YR Mar25 contract.
  • Projected rate cuts into early 2025 have cool slightly, current levels vs. this morning (*) as follows: Dec'24 cumulative -18bp, Jan'25 -24.5bp, Mar'25 -39.5bp, May'25 -49.6bp.
  • Non-Farm Payroll expectations tonight are for 220k, and reminder, the Federal Reserve enters their self-imposed blackout period at midnight Friday through December 19, the day after the final FOMC policy announcement for 2024.