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Discounting Stronger US Data

US TSY FUTURES
  • US Treasury futures have discounted this morning stronger than expected PPI and softer weekly claims data, are extending moderate session highs as ECB Lagarde's post-policy presser continues.
  • Dec'23 10Y futures mark session high of 110-07.5, trade 110-05.5 last (+5), curves remain flat despite chunky 5Y30Y steepener blocks, 3M10Y -.981 at -125.680, 2Y10Y -2.358 at -74.856.
  • Cross asset, SPX emini futures pulling higher ahead the cash open ESU3 +26 at 4495.0; crude marching higher WTI +1.20 at 89.72; US$ index gaining, BBDXY +1.07 at 1251.66.

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