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Tsys Futures Steady Ahead Of Jackson Hole & Jobless Claims

US TSYS
  • Treasury futures opened the session lower, with the 10yr testing pre-BLS levels before risk markets, lead by tech stocks saw some selling pressure. TYU4 is now back at opening levels at 113-24, while TUU4 is trading at103-11+.
  • The market will now turn its focus to US Jobless claims, Jackson Hole Headlines, while BoJ's Ueda is to speak tomorrow with any hawkish comments likely to cause heightened volatility.
  • Cash treasuries are trading little changed today with yields flat to 0.5bps lower. The 10yr is trading 3.797% vs overnight & yearly lows of 3.7595%
  • Projected rate cuts through year end gained vs. early Wednesday levels (*): Sep'24 cumulative -33.6bp (-33.3bp), Nov'24 cumulative -65.7bp (-64.4bp), Dec'24 -101.3bp (-98.3bp).

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