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Mulling Month End Extensions, Late Fed Speak: Goolsbee

US TSYS
  • Tsys remain in modestly weaker territory, near top end of session range. Current focus on Chicago Fed President Goolsbee speaking at Ivy Tech Comm College (text, no Q&A) at 1430ET and month end.
  • Bbg/Barclays month end extension est rather big at .12. One desk said they expected buying into 1600ET but related hedging "feels muted today".
  • In-line with todays moves the desk posited the "vast majority of the selling will occur in the morning session, and then month-end extension buyers and rate lock unwinds will drive the price action (higher) in the afternoon."

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