Tsy futures remain weaker after the bell, off lows after September employment data came out slightly better than expected w/ jobs gain of +263k vs. +255k est, August up-revision by +11k.

  • Yield curves bear steepened (2s10s climbed to -40.616) as focus turned to drop in participation rate and unemployment as traders anticipate more rate hikes into 2023. Stocks not taking the data positively either, SPX eminis falling to late session low of 3643.75.
  • Tsys held the lower range as desks turn focus on next week Thursday's CPI (0.2% MoM est, 8.1% YoY est) for next inflation metric. Sep FOMC minutes release on Wednesday at 1400ET.
  • Earlier Fed speak underscored the hawkish tempo, NY Fed Williams said need to raise rate to around 4.5% "over time" citing strong jobs market. Williams added he does expect to see inflation "down significantly next year."

US TSYS: Focus Turns to Next Wk's CPI, Sep FOMC Minutes

Last updated at:Oct-07 19:24By: Bill Sokolis
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Tsy futures remain weaker after the bell, off lows after September employment data came out slightly better than expected w/ jobs gain of +263k vs. +255k est, August up-revision by +11k.

  • Yield curves bear steepened (2s10s climbed to -40.616) as focus turned to drop in participation rate and unemployment as traders anticipate more rate hikes into 2023. Stocks not taking the data positively either, SPX eminis falling to late session low of 3643.75.
  • Tsys held the lower range as desks turn focus on next week Thursday's CPI (0.2% MoM est, 8.1% YoY est) for next inflation metric. Sep FOMC minutes release on Wednesday at 1400ET.
  • Earlier Fed speak underscored the hawkish tempo, NY Fed Williams said need to raise rate to around 4.5% "over time" citing strong jobs market. Williams added he does expect to see inflation "down significantly next year."