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Bonds Extend Lows Post-Empire State Data

US TSY FUTURES
  • Treasury futures extend early session lows after NY Fed Empire State comes out much stronger than expected (index -8.0 vs. -18.0 est). Jun'23 10Y futures -11.5 at 114-16 low, nearing 50-day EMA at 114-14.
  • 10Y yield climbs to 3.5603 high. Yield curves bear flattening, 2s10s -2.034 at -61.275.

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