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Post-Data React, Holding Lows

US TSY FUTURES
US Tsys holding sharply weaker levels post data: claims 232k vs. 247k est, continuing claims at 1.438M vs. 1.440M est. Surge in 30Y yield to 3.3783% high less about data, however, as sell-off started just ahead the NY open.
  • No obvious headline or Block sale trigger to tie it to. Trading desks posit carry-over month end selling from late Wednesday. Not letting up, one desks suggests Central Bank selling, "maybe even China to make US more vulnerable as QT engages."
  • Yield curves bear steepening:
    • 3M10Y +5.695, 30.045 (L: 18.486 / H: 31.521)
    • 2Y10Y +5.182, -25.258 (L: -31.214 / H: -24.945)
    • 2Y30Y +6.873, -13.569 (L: -20.724 / H: -12.889)
    • 5Y30Y +4.847, -1.318 (L: -6.257 / H: -0.883)

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