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Bonds Buoyed

US TSY FUTURES
  • Bonds remain firm (USM3 126-09 +7) as Federal Reserve Chairman Powell's second testimony to Congress continues.
  • Futures near morning highs, yield curves still near this morning's 16 year inverted low, (2s10s -107.192) a sign markets not overly confident in the Federal Reserve's ability to engineer a soft landing in combatting inflation.
  • Powell notes upcoming NFP Friday, CPI and PPI inflation metrics next week /PPI: "They’re going to be important in our assessment," however, "we have not made any decision about the March meeting. We’re not on a preset path."

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