Losses Pared After TY's Fresh Cycle Low

TYU3 deals at 109-01, -0-01+, a 0-07 range has been observed on volume of ~84k.

• Cash tsys sit little changed across the major benchmarks.
• In early dealing on Tuesday tsys were pressured as participants perhaps looked ahead to Fed Chair Powell's speech at the Jackson Hole Symposium on Friday, a Bloomberg Market Pulse Survey noted that 80% of those surveyed said the speech will reinforce the message of a hawkish hold.
• TY printed a fresh cycle low at 108-28+ and the 10 Year Yield printed at 4.362% its highest level since 2007.
• The move lower did not follow through, tsys ticked away from session lows alongside pressure on the USD.
• There is a thin docket in Europe today, further out we have Existing Home Sales, Philadelphia Fed Non-Mfg Index and Richmond Fed Business Survey. Fedspeak from Richmond Fed President Barkin, Chicago Fed President Goolsbee and Gov Bowman cross.