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Post-Data

US TSY FUTURES
Futures had pared gains ahead weekly claims, draws two-way flurry on light volume on more-or-less in-line read (385k vs. 383k est). Futures bounce off early session low with Tsys holding mixed 2s-10s weaker vs. mildly higher bonds.
  • Summer trade persists while traders turn focus on Fed Gov Waller virtual event on digital currency, (text, Q&A) at 1000ET, MN Fed Pres Kashkari at 1600ET, and Fri's headline July employment data (+870k est vs. +850k prior).
  • Short preview of NFP estimates breakdown on Bbg:
    • Median est of +870k with 64 economists responding
    • Range of +350k low to +1.2M high
    • 13 economists estimate over +1M
    • Jefferies economist on the +1.2M -- keeps calling for upside surprise

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