Market Roundup: Top-End Weaker Session Range, Oct NFP, Fed Speak Friday

Tsy futures weaker but at the top end of session range ahead midday, yield curves near inverted lows (2s10s currently -3.322 at -55.656). Tsys bounced off midmorning lows (30YY tapped 4.2298%) after weaker than expected ISM Non-Manufacturing at 54.4 vs expected 55.3 (56.7 prior), ending for consecutive months of stronger data.

• Tsys opened weaker, adding to Wed's post-FOMC action after Chairman Powell's hawkish rebuttal to the expected 75bp rate hike while short end back to gradually pricing in an unprecedented fifth 75bp hike in December.
  
• Little react to expected BOE 75bp hike earlier while Tsys extended lows after small pick-up in continuing claims to 1.485M (1.450M est), weekly claims little softer at 218k vs. 220k est. Unit Labor Costs lower than expected at 3.5% vs. 4.0% est.
  
• With session data out of the way, focus turns to Friday's October employment data: +200k estimated vs. +263k prior.
  
• Fed out of media blackout Friday: Boston Fed Pres Collins on economy/policy outlook at a Brookings conf (text and Q&A expected) at 1000ET, while CNBC expected to interview Richmond Fed Pres Barkin at same time.