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Bonds Quietly Gaining Ahead Early Close

US TSY FUTURES
  • Treasury curves are twisting flatter as Bonds outperform in late morning trade, USM4 +4 at 120-14 - session high, while short end rates remain weaker: TUM4 -2.38 at 102-08.62, TYM4 at 110-26.5 (-1.5).
  • Data out of the way, markets await final Treasury supply with $75B 4W, $80B 8W Bill auctions at 1130ET.
  • Reminder: Ahead of tomorrow's Good Friday close, Tsy close early in the pit today at 1300ET, Cash closes an hour later at 1400ET while Globex closes at normal time of 1700ET.
  • Despite tomorrow's close, there are several data points and Fed speakers scheduled: Personal Income/Spending, PCE Deflator, Adv Trade Balance, Retail/Wholesale Inventories, KC Fed Services. SF Fed Daly open remarks at policy conf at 1115ET while Fed Chairman Powell speaks at a moderated discussion at 1130ET.
  • US markets resume normal trade Monday (Globex opens Sunday evening at 1800ET) while Europe markets closed for Easter Monday.

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