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CORRECTION Post-Personal Income, Weekly Claims React

US TSYS
  • Still weaker, Treasury futures bounced off lows following higher than expected Personal Income (1.0% vs. 0.4% est) while Personal Spending comes out in line at 0.2% vs est.
  • Initial Jobless Claims higher than expected (215k vs. 210k est) while Continuing Claims climbs to 1.905M vs. 1.874M est.
  • Balance of data looks in-line: Real Personal Spending (-0.1% vs. -0.1% est); PCE Deflator MoM (0.3% vs. 0.3% est), YoY (2.4% vs. 2.4% est), PCE Core Deflator MoM (0.4% vs. 0.4% est), YoY (2.8% vs. 2.8% est).
  • New lead quarterly Jun'24 10Y futures currently at 110-08 (-3) vs. 110-00 low, trading inside technicals: initial technical resistance 110-26+ (20-day EMA) vs. technical support 109-25+ (Low Feb 23).
  • Curves flatter 2s10s -0.951at -38.592, 10Y yield 4.2915 (+.0276).

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