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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

EURJPY TECHS

Strong Bounce

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Treasuries have weakened with bear steepening in the curve in European trading, with GDP and jobless claims data awaited.

  • TYs are now testing Thursday's post-FOMC Statement lows and well off the post-Powell press conference highs.
  • Our review of the FOMC meeting will be out later this morning - we haven't seen any significant changes in sell-side tapering views emerge from yesterday's decision.
  • Global equities have stabilized, in part on Chinese authorities' efforts to calm markets. The dollar is weaker (by 0.3-0.4% vs EUR and GBP).
  • We get the first read of 2Q GDP at 0830ET, alongside jobless claims. Pending home sales at 1000ET.
  • In supply: 1130ET sees $ combined in 4-/8-week bill auctions, with $62B 7Y Note auction at 1300ET. NY Fed buys ~$2.025B of 22.5-30Y Tsys.