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Goolsbee Steers Clear Of September Rate Hike Debate After $IG Issuance Weighs

US TSYS

Comments from Chicago Fed President Goolsbee (’23 voter) offer nothing in the way of commitment when it comes to future policy steps as he stresses data dependence (remember he was very much on the fence ahead of last week’s meeting before supporting a rate hike), while pointing to “quite good” monthly inflation readings, which may be providing some incremental support for Tsys (alongside a tick away from best levels in e-minis around the cash equity open). Before that, the tabling of multi-part $IG corporate issuance deals applied weight to the space, seeing Tsys away from richest levels of the day. TYU3 remains closer to the top of its daily range than the lows, while cash Tsys run ~1bp cheaper across the curve.

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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