We have a light calendar today, ahead of the FOMC rate decisions and Nonfarm Payrolls, with Pending Home Sales (MoM) expected to edge up +0.5% for June, following May’s +6.1% jump. The Dallas Fed Manufacturing is expected to rise to 12.8 vs. 11.4 prior. Treasuries are opening flat to Friday’s 2:00 PM PDTclose and the curve has slightly bull steepened with 2s10s up 0.5 bps.
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