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UPDATE BLOCKs, Sep'23 2Y, 30Y Ultra-Bonds

US TSY FUTURES
  • Both crosses posted at 1010:23ET were below their respective bids. However, given bear curve flattening (2s10s currently -3.699 to -84.007) and the heavy Treasury bill and coupon issuance early next week, trading desks leaning towards the Block being a flattener:
  • -13,328 TUU3 102-13.75, through 102-14.12 post-time bid (DV01 appr $522k)
  • +2,364 WNU3 135-12, though 135-13 post-time bid (DV01 appr 527k)

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