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US TSYS: Tsys Futures Steady Ahead OF NFP

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Tsys futures have done very little in the first part of morning trading today with narrow ranges. TY is trading at 113-31+ just above the 50-day EMA (113-29+), a break below here would be the first time the contract trades below here since early July.
  • Yield curves are steeper with the 2s10s +0.868 at 14.704 vs recent highs of 23.585. Yields are trading flat to 2bps lower, with the 2yr -1.6bps at 3.689% and the 10yr is -0.8bps at 3.838%
  • Oil rally looks to have taken a break and trades little changed this morning, with little in the way of headlines coming from the middle east over the past few hours.
  • Fed funds futures are trading steady with little change over the past few sessions, Nov dated futures are pricing in 33.8bps of cuts, or roughly 35% chance of another 50bps cut.
  • Focus is all on tonight's NFP where they expected to have firmed marginally to 150k in September although some analysts also look for upward revisions to August. The employment rate is expected to come in at 4.2% for a second month.
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  • Tsys futures have done very little in the first part of morning trading today with narrow ranges. TY is trading at 113-31+ just above the 50-day EMA (113-29+), a break below here would be the first time the contract trades below here since early July.
  • Yield curves are steeper with the 2s10s +0.868 at 14.704 vs recent highs of 23.585. Yields are trading flat to 2bps lower, with the 2yr -1.6bps at 3.689% and the 10yr is -0.8bps at 3.838%
  • Oil rally looks to have taken a break and trades little changed this morning, with little in the way of headlines coming from the middle east over the past few hours.
  • Fed funds futures are trading steady with little change over the past few sessions, Nov dated futures are pricing in 33.8bps of cuts, or roughly 35% chance of another 50bps cut.
  • Focus is all on tonight's NFP where they expected to have firmed marginally to 150k in September although some analysts also look for upward revisions to August. The employment rate is expected to come in at 4.2% for a second month.