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More Employment Data Ahead Of Friday's Payrolls

US TSYS

Treasuries have edged upward in European trading after a quiet Asia-Pac session, with Dec TYs testing Wednesday's high (133-20), albeit on moderate volumes.

  • Few catalysts for price action so far, with most attention on this morning's labor market data ahead of Friday's nonfarm payrolls release.
  • Dec 10-Yr futures (TY) up 4/32 at 133-18.5 (L: 133-14 / H: 133-20)
  • The 2-Yr yield is down 0.4bps at 0.2056%, 5-Yr is down 0.8bps at 0.7644%, 10-Yr is down 0.7bps at 1.2869%, and 30-Yr is down 0.8bps at 1.9058%.
  • We get more employment data today (following Weds' weak ISM Manuf Employment subindex and ADP numbers): 0730ET is Challenger Job Cuts, followed by 0830ET's jobless claims (also trade balance). At 1000ET, we get Jul (final) durable/cap goods orders and factory orders.
  • Today's Fed speakers are Atlanta's Bostic at 1300ET, and SF's Daly at 1500ET.
  • In supply, $55B of 4-/8-week bill auction at 1130ET. NY Fed buys ~$2.025B of 22.5-30Y Tsys.

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