STIR: GBP 1y1y Holds Break Above Trendline

• Secured Overnight Financing Rate (SOFR): 4.40% (-0.02), volume: $2.872T
• Broad General Collateral Rate (BGCR): 4.39% (-0.01), volume: $1.151T
• Tri-Party General Collateral Rate (TCR): 4.39% (-0.01), volume: $1.120T
• (rate, volume levels reflect prior session)

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• President Donald Trump is expected to take questions from reporters when he signs a proclamation at 16:30 ET 21:30 BST.
• At 10:00 ET 15:00 BST, the BLS will release payroll revisions for the year ending March 2025. Trump advisors are preparing a report criticising the agency's jobs data.
• The Supreme Court ruled that Trump can fire FTC Commissioner Rebecca Slaughter and overturned a lower court restriction on immigration raids in Los Angeles.
• Trump is struggling to contain the fallout from the Epstein case but appears to have resolved a rift with conservative commentators, reducing his political exposure to the issue.
• CEA Chair Stephen Miran appears set for a smooth confirmation to the Fed board after Senator Thom Tillis (R-NC) said he will vote in favour of Miran’s confirmation.
• The Senate Banking Committee will vote on Miran’s confirmation tomorrow at 10:00 ET 15:00 BST, teeing up a full Senate vote on September 15, a day before the FOMC meeting.
• Medicaid cuts could slow growth in health jobs.
• South Korea’s foreign minister is in Washington to discuss an immigration raid that prompted a furious reaction in Seoul.
• The risk of a government shutdown receded slightly after a 'four corners' meeting.
• Defense Secretary Pete Hegseth made an unannounced visit to Puerto Rico as the US prepares to expand military operations against Latin American cartels.
• Poll of the Day: Democrats view capitalism less favourably. 

Full Article: US DAILY BRIEF

• GBP437.5mln have been on offer.
• This means GBP34.875bln of the gilt remain in issue.