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Bull Steepening On JOLTS

US TSYS
HomepageBond Market NewsBulletMarketsFixed Income Bullets

Fresh session highs for Tsys in the wake of lower-than-expected JOLTS job openings data, with bull steepening back to the fore.

  • TYU4 prints as high as 114-18, just below initial resistance at the Aug 21 high (114-19+), before moving back to 114-15.
  • Yields 4-8bp lower on the day.
  • 2s and 5s hit the lowest yield levels seen since the early August risk-off price action, 10+-Year yields stay above Aug 21 lows.
  • 2s10s and 5s30s remain below August highs.
  • A break above would target Fibonacci resistance at 114-31+.
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Fresh session highs for Tsys in the wake of lower-than-expected JOLTS job openings data, with bull steepening back to the fore.

  • TYU4 prints as high as 114-18, just below initial resistance at the Aug 21 high (114-19+), before moving back to 114-15.
  • Yields 4-8bp lower on the day.
  • 2s and 5s hit the lowest yield levels seen since the early August risk-off price action, 10+-Year yields stay above Aug 21 lows.
  • 2s10s and 5s30s remain below August highs.
  • A break above would target Fibonacci resistance at 114-31+.