Tsys Extend Lows After The Bell

Focus on massive fiscal stimulus/covid-related relief continued Thursday, but the steady drip of headlines through the session did not induce the see-saw action like they did earlier in the week.

• "Just about there" House Sp Pelosi is still "hopeful they will be able to reach an agreement" on a fiscal stimulus package. While "both sides" of the aisle want to come to an "aid agreement" Pelosi adds, there are "larger policy differences" that remain said WH adv Kudlow.
• Mkts are becoming partially inured to the prospect a deal may be done but likely after the presidential election. Despite the moderately decent volumes (TYZ0> 1.17M) market participants plied the sidelines ahead of tonight's final Presidential debate at 2100ET.
• Lower than exp weekly claims (787k vs. 870k est; continuing claims lower at 8.373M vs. 9.625M est) actually saw futures inch higher for a few minutes before reversing, trading lower through the balance of the session. (Tsy futures extended lows after the bell as equities posted new highs)
• The 2-Yr yield is up 0.6bps at 0.1533%, 5-Yr is up 1.8bps at 0.3731%, 10-Yr is up 2.9bps at 0.8512%, and 30-Yr is up 2.9bps at 1.6644%.