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Bonds Extend Session High

US TSYS
  • Still bellow overnight highs, 30Y Bond futures have quietly extended past early morning highs, USM3 trades 131-12 high (30Y yield 3.7144 +.0628), but remain well off overnight high of 131-27.
  • No obvious headline or flow driven trigger, appears more consolidative as yield curves extend steepener move: 2s10s taps -42.198 high with short end outperforming (TUM3 +8 at 103-24).

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