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Tsy Inching Higher As US$ Extends Drop

US TSYS SUMMARY

Similar to the week opener, duration faded into the close as managed to hold near all-time-highs (emini 3390.75) and Gold over 2000.0 again w/US$ making new 2+ year lows (DXY 92.127L).

  • Tsy futures pared after July housing starts surged 22.6%, building permits 1.495M vs. 1.327M est. Trading desks suspected knock-on selling from early weakness in Gilts and Bunds as well.
  • Overall trading volumes were rather muted, however, TYU just over 775k after the close. Sep/Dec roll volume still muted, less than 5% ahead August 31 first notice date when Dec takes lead quarterly.
  • Moderate deal-tied flow on high-grade issuance just over $8B on the day.
  • No block posts, modest option-tied delta hedging, generally quiet late summer session.
  • The 2-Yr yield is down 0.8bps at 0.1431%, 5-Yr is down 1.1bps at 0.277%, 10-Yr is down 2.1bps at 0.6671%, and 30-Yr is down 3.9bps at 1.3948%.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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