The report highlights upcoming month-end rebalancing and the focus on the June non-farm payroll (NFP) report for the Federal Reserve's policy path. Analysts favor 5Y swap spreads for relative value positioning.
Key Takeaways
- 1.Month-end portfolio rebalancing is expected to extend Treasury indices by 0.06 years.
- 2.The June jobs report is the primary focus for the Fed's dual mandate, with consensus at +105k non-farm payrolls.
- 3.Relative value metrics highlight 5Y swap spread underperformance as an attractive long opportunity.
Table of Contents
- Getting ready for month-end & NFP
- Upcoming supply
- Upcoming data highlights
- EUR Rates Dashboard
- USD Rates Dashboard
- Interest Rates Research advanced tools
- Red Mount Analytics
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Authors
Alex Li
Securities
US TreasuriesBund
Themes
Central Bank PolicyLabor MarketMonth-end Rebalancing
Regions
GlobalEuropeNorth AmericaUnited StatesGermanyFrance