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MW: CME Treasury futures trade paused before jobs data
 
By Jacob Bunge
Trading in some Treasury futures contracts were briefly halted just before Friday’s job report, after big orders hit the market.

Chicago-based CME Group Inc. CME -0.42% triggered a five-second pause in contracts linked to the yields of 10-year and 30-year Treasury bonds seconds before the U.S. government reported that employment growth slowed in July.

“The market started to run just before the number came out,” said Glenn Holland, managing director at CQ Solutions, who works on CME’s Chicago trading floor.

Traders said that shortly after 8:29 ET – one minute before the jobs report was due out – an order came in bidding to buy about 2,000 10-year Treasury contracts. After the order was partly filled, another bid followed, and CME’s systems paused the market three seconds ahead of 8:30.

A spokesman for CME confirmed the exchange’s systems paused trading in the contracts Friday.

Source