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Modest Gains Overnight, Consumer Sentiment In Focus

US TSYS SUMMARY

The final session of the week has begun with modest gains in Treasuries, though well within Weds-Thurs' ranges.

  • Sep 10-Yr futures (TY) up 5/32 at 133-19.5 (L: 133-15 / H: 133-22.5). Light volumes, with under 180k TYU1 traded so far.
  • The 2-Yr yield is up 0.2bps at 0.2251%, 5-Yr is down 0.5bps at 0.8184%, 10-Yr is down 1.5bps at 1.3438%, and 30-Yr is down 0.5bps at 1.9937%.
  • Modestly risk-off in Asia-Pac trade with semiconductor /tech stocks weakening, but risk appetite picked up in London trading, with S&P futures hitting fresh all-time highs. Dollar a little weaker.
  • A relatively quiet schedule to conclude the week: there's no supply or Fed speakers, and there's no 1st tier data.
  • 0830ET sees US Import/Export price indices, with prelim Aug UMichigan sentiment data out at 1000ET (probably most closely watched for consumer inflation expectations).

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