Market Roundup: BOE Buy Op, Kashkari on 75Bp Hikes

Tsys still trading steady to mixed, curves off steeper levels, pivoting around near steady 10s as early short end support wanes, bonds off lows.

• Tsys continue to react to BOE Linker/Gilt purchase program headlines. Earlier Linkers BOE purchases GBP1.9798B (GBP38M rejected). Gilt purchase results up to GBP 2.375B from GBP1.363B prior, zero offers rejected.
• Tsys had gapped higher early overnight following FT story, since refuted, the Bank may prolong the program - after Gov Bailey said late Tue the temporary intervention would end this Friday.
• Tsys holding inside session range as MN Fed President Neel Kashkari speaks at town hall: downplays suggestion the Fed "not moving aggressively .. 75bp increments is very aggressive" after noting there "may be a housing downturn, but not necessarily a hard crash."
• More Fed speak ahead: Fed VC Barr will participate in a moderated Q&A on technology at 1345ET ahead the Sep FOMC minutes at 1400ET. Fed Gov Bowman on forward guidance later this evening 1830ET.
• Markets gearing up for second leg of week's Tsy supply: US Tsy $32B 10Y Note auction re-open (91282CFF3) at 1300ET