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Treasuries are trading weaker.......>

US TSYS SUMMARY
US TSYS SUMMARY: Treasuries are trading weaker with the curve steepening
slightly ahead of Durable Goods data and Fed Chair Powell's Jackson Hole speech.
- After trading flat-to-weaker earlier in the session, Tsy yields broke higher
after 1030BST alongside a move higher in the USD. No news trigger seen.
- 10-Yr Tsys are underperforming, with yields rising 0.7bps to 2.837% (up 1.1bps
on the day) between 1030-1130BST, reaching a three-day high.
- 2-Yrs fairly static at 2.620%, up 0.4bps. 30-Yr weaker, with yield up 0.6bps
at 2.987%.
- The 2s10s spread hit another cycle low at 19.927bps in overnight trading, but
has rebounded to 21.248bps. The move through 20bps could provide further fodder
for policymaker discussion at Jackson Hole.
- The Eurodollar futures strip is a little steeper, with White contracts down
0.5-1.0 ticks, and Greens and Blues down 2.0-2.5 ticks.
- Apart from Jackson Hole, with Powell due to speak at 1000EST/1500BST,
highlight of the afternoon is July Durable Goods orders data at 0830EST/1330BST.
MarketsFixed Income Bullets
MarketsFixed Income Bullets

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