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Durable Goods See Mixed Reaction In Tsys

DATA REACT
  • Core durable goods orders a touch softer than expected in April, rising +0.3% M/M (cons +0.5) after a downward revised +1.1% M/M in March (originally +1.3).
  • Core shipments meanwhile were broadly in line as they firmed to +0.8% M/M from +0.2% M/M.
  • Mixed reaction Tsys. The 2Y is holding circa 1bp lower since the release for -2bps on the day, the reaction potentially amplified by coming after yesterday’s soft US data. Long-end yields meanwhile fell 2bps before more than reversing that and now sitting almost 2bps higher for -1bps on the day.
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