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US TSYS: Twist Flatter Ahead Of Payrolls On Particularly Low Volumes

US TSYS
USBulletMarketsFixed Income BulletsNorth America
  • Treasuries sit twist flatter on the day ahead of payrolls, a release that dominates today’s session. See the MNI Payrolls Preview here.
  • Cash yields are 2bp higher (2s) to 0.3bp lower (30s).
  • 2s10s at 2bps (-1.5bp) has extended yesterday’s flattening, reverting closer to the brief inversion seen after Bessent’s pick as Treasury Secretary via Wednesday's recent high of almost 10bp.
  • TYH5 trades at 111-04+ (-02) on exceptionally low cumulative volumes of 195k. It’s pulled a little further back from Tuesday’s high of 111-11 and further resistance at 111-12 (50-day EMA).
  • Support meanwhile is seen at 110-18 (Dec 4 low) in the event of a hawkish payrolls report that helps see the end of what are currently seen as corrective gains.
  • Data: Payrolls Nov (0830ET), U.Mich consumer survey Dec P (1000ET), Consumer credit Oct (1500ET)
  • Fedspeak: Bowman (0915ET), Goolsbee (1030ET), Hammack (1200ET), Daly (1300ET) – see STIR bullet 
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  • Treasuries sit twist flatter on the day ahead of payrolls, a release that dominates today’s session. See the MNI Payrolls Preview here.
  • Cash yields are 2bp higher (2s) to 0.3bp lower (30s).
  • 2s10s at 2bps (-1.5bp) has extended yesterday’s flattening, reverting closer to the brief inversion seen after Bessent’s pick as Treasury Secretary via Wednesday's recent high of almost 10bp.
  • TYH5 trades at 111-04+ (-02) on exceptionally low cumulative volumes of 195k. It’s pulled a little further back from Tuesday’s high of 111-11 and further resistance at 111-12 (50-day EMA).
  • Support meanwhile is seen at 110-18 (Dec 4 low) in the event of a hawkish payrolls report that helps see the end of what are currently seen as corrective gains.
  • Data: Payrolls Nov (0830ET), U.Mich consumer survey Dec P (1000ET), Consumer credit Oct (1500ET)
  • Fedspeak: Bowman (0915ET), Goolsbee (1030ET), Hammack (1200ET), Daly (1300ET) – see STIR bullet