Q3 GDP, And 7-Yr Supply Eyed

Treasuries have pared the modest losses seen in Asian trade to trade near flat on the session, with data and 7-Yr supply eyed (some attention on ECB decision as well)

• Stock futures have faded their initial bounce from Wednesday's lows, though sit higher on the day. USD has begun to move higher as well.
• Dec 10-Yr futures (TY) up 0.5/32 at 138-26 (L: 138-22 / H: 138-27.5) on unremarkable volume (~260k). The 2-Yr yield is down 0.4bps at 0.1427%, 5-Yr is up 0.7bps at 0.3368%, 10-Yr is up 0.5bps at 0.776%, and 30-Yr is up 0.5bps at 1.5591%.
• Initial jobless claims and advance Q3 GDP at 0830ET are the immediate highlights of the schedule, with $53B 7-Yr Note auction at 1300ET. (We get a combined $65B of 4-/8-week bill auction at 1130ET too).
• Politico's revelation that Speaker Pelosi wrote to Treas Sec Mnuchin making it clear that the sides are not close to a stimulus deal did nothing to move the needle - it's a moot point at this stage, and we'll see where we are post-election.
• NY Fed announced its new biweekly schedule of purchases Wednesday - today sees ~$1.750B of 20-30-Yr Tsy buys.
• With the Nasdaq leading the equity bounce, worth noting several earnings reports of interest after the close ( Amazon, Alphabet, Apple & Facebook).