In today’s briefing:
- Lucror Analytics – Morning Views Asia
Lucror Analytics – Morning Views Asia
- Treasury yields jumped yesterday, led by the short-end, as a stronger than expected nonfarm payrolls report drove traders to exit bets on a July rate cut.
- As of yesterday, Fed-dated OIS were pricing in an almost zero chance of a rate decrease in July, along with 51 bps of cuts by year-end (vs. 65 bps as of Wednesday).
- The yield on the 2Y UST rose 10 bps to 3.88%, while the yield on the 10Y UST was up 7 bps at 4.35%.
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