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Bid on Weak PMI Set

US TSYS
  • US Tsys rebound after second consecutive set of weak PMI data:
    • Mfg: 52.4 vs expected 56.0 and last of 57.0
    • Services: 51.6 vs expected 53.3 and last of 53.4
    • Comp: 51.2 vs expected 53.0 and last of 53.6
  • Bonds leading rally, USU2 climbs past overnight high to 137-06, 30YY slips to 3.1716 low., Yield curves bull steepening 2s10s +6.852 at 16.238

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