Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Treasuries End Lower

Treasuries opened unchanged as the Street braced for employment data. Eurodollars saw large curve flattening trades just ahead of the report. The 248,000 rise in May nonfarm payrolls was on consensus. The surprise was the upward revisions to both April and March, so Treasury prices fell, as the payrolls report ensures the Fed will raise rates at least 25 basis points on June 30 and possibly more at their August meeting.

Still, the Street was positioned for a strong report (large shorts), so the slip in prices was shallow. The knee-jerk reaction was helped by fresh curve flatteners. The higher prices out the curve triggered buying. But once the shorts covered, the market lacked follow-through to the upside. Prices fell back by midmorning on option-related hedging, as option volatility tanked. Prices moved lower in the afternoon.

blog comments powered by Disqus