CME paused some Treasury futures contracts before jobs data
The CME Group paused trading in some Treasury contracts shortly before the release of the jobs report on Friday after big orders reportedly hit the market.
The CME triggered a five-second pause in 10-year and 30-year Treasurys futures contracts right before the release of the July employment report.
A spokesman for CME confirmed the exchange's systems paused trading in the contracts, saying it was a sign the market works. But the CME would not confirm reports of large orders hitting the market ahead of the data.
U.S. futures regulators told Reuters they are reviewing trades that triggered the brief halt in trading. "We are aware of it and will be doing a review of the trades, which is standard operating procedure for something like this," Commodity Futures Trading Commission commissioner Bart Chilton said in response to a query from Reuters.
The benchmark 10-year Treasury note, in negative territory before the jobs report, was up 22/32 afterwards, its yield easing to 2.627 percent.
Click here for the latest on the markets.