Rates traders brace for jobs data after August steepener payday
Investors hope for weaker-than-expected US numbers to trigger re-steepening
Rates traders are hoping for another round of weak US jobs data on September 6, after last month’s lower-than-expected payroll numbers opened a rare profit window on popular steepener trades.
July’s non-farm payrolls, published on August 2, came in 35% below consensus estimates at 114,000, triggering a 10 basis point steepening of the yield curve and finally pushing trades that benefit from a
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