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Curve Sees Light Twist Flattening As Jackson Hole Nears

US TSYS

Cash Tsys twist flatten, running 1bp richer to 1bp cheaper, while TYU3 nudges higher in recent trade to last sit -0-01+.

  • The very light bid seen in early London trade is probably being aided by a move lower in European gas prices as worries re: an Australian supply outage recede further.
  • TY futures haven’t tested yesterday’s highs, sticking to a narrow 0-05+ range.
  • Only 20+-Year yields have tested/broken yesterday’s lows thus far.
  • Weekly jobless claims data, preliminary durable goods, regional Fed activity indices and Fedspeak provide the major points of NY interest ahead of the opening of the Jackson Hole symposium in Asia-Pac hours. 30-Year TIPS supply is also due.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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