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Flat Ahead Of ECB, Data

US TSYS SUMMARY

Treasuries are flat on the session, having given up earlier gains on the equity retracement from Wednesday's rally. Attention now on the European Central Bank decision / press conference (0745ET/0830ET respectively), as well as some US data.

Dec 10-Yr futures (TY) steady at at 139-09.5 (L: 139-08.5 / H: 139-14) with volumes on the light side so far; very limited moves on the cash curve (+/- 0.3bps).

The 2-Yr yield is down 0.2bps at 0.1449%, 5-Yr is down 0.3bps at 0.2785%, 10-Yr is unchanged at 0.7001%, and 30-Yr is up 0.3bps at 1.4597%.

Apart from ECB (contact us if you haven't seen our preview), data eyed at 0830ET: jobless claims and Aug PPI (Jul wholesale inventories a little later at 1000ET).

We'll see a Senate vote on the Republican pandemic stimulus bill, but it's likely to be dead on arrival given Democratic opposition.

In supply, $65B of 4-/8-week bills sell at 1130ET; $23B 30-Yr re-open at 1300ET Also we get 10-yr TIPS reopening and 20-Yr bond reopening announcements at 1100ET.

NY Fed buys ~$6.025B of 4.5Y-7Y Tsys.

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