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CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Focus on Headline Employment Data for US and Canada

US TSYS
  • Treasuries are moderately lower, taking cues from European bourses after strong Eurozone Q1 wage data pressured core/semi-core EGBs overnight.
  • Treasury futures hold to a narrow overnight range on lighter volumes (TYU4 just over 250k) in the lead-up to this morning's US employment report for May at 0830ET, 180k jobs gain anticipated vs. +175k prior. Canada employment report also due at 0830ET.
  • Sep'24 10Y Treasury futures are trading -3.5 at 110-08 -- inside 4 tic range: 110-06 low/100-04 high. Despite the dip, Treasuries maintain a firmer short-term tone and the contract is trading closer to its recent highs after the Sep 10Y contract traded through resistance and a bull trigger at 110-09, the May 16 high. The break higher opens 110-17, the Apr 4 high, and 110-27+, a Fibonacci projection.
  • Cash yields are currently mildly higher: 2s +.0096 at 4.7337%, 10s +.0096 at 4.2967%, 30s +.0083 at 4.4436%, while curves are running mildly mixed: 2s10s +0.011 at -44.106, 5s30s -0.101 at 13.323.
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