[TradersCom]

Somewhat aggressive moves in bonds ahead of FMOC after PPI:

Treasury yields lower, led by the front.
2s down 5.5 bps to session low 4.67%
USD lower as a result
$ES_F up 7 trading 0.1% above fair value,
$NQ_F up 43 trading 0.2% above fair value.

Today’s FOMC meeting, which will include a new policy directive and updated Summary of Economic Projections at 2:00 p.m. ET, followed by Fed Chair Powell’s press conference at 2:30 p.m. ET.

The Fed is expected to hold rates steady today, so market participants will be focused on how the dot plot and Fed Chair Powell’s tone in his press conference fit with rate cut narrative that has driven recent gains.

[KnovaWave]

U.S. Treasuries closed the week adversely impacted at the front of the curve after New York Fed President Williams (FOMC voter) seemingly contradictin
[See the full post at: Bond Traders Weekly Outlook: Bonds markets Curve Impacted by Fed Contradiction on Rate Cuts]

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