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BOE

UBS also push back first hike to next year

US TSYS

BLOCK, 3M SOFR Fly

OPTIONS

Larger FX Option Pipeline

BOE

GS now expect BOE on hold in December

PIPELINE

Merck's 5Pt Half of Tue's $16B Debt Issuance

US
  • RE the bounce off the lows in USD and Treasury yields - some pinning move on better revisions and/or better earnings metrics.
  • Industry breakdown shows that despite slowdown in overall hiring, leisure & hospitality workers were still winners in earnings growth (1.4% growth on month, 10.3% growth on year) with transportation/warehousing and financial activities also seeing decent gains. Could be contributing to underlying inflationary narrative.
  • Treasury yields remain north of yesterday's highs at 1.32% last, EUR/USD settling just shy of 1.19

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Source: BLS/MNI