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US TSY FUTURES
  • US Treasuries dip lower, seems the move is also being helped by pullbacks in Rates (SFR), with notable volume already traded in the front SFRM3 contract, just over 120k.
  • The Sep23 (SFRU3) traded at its highest level since the start of April post Fed delivered 25bps hike, with the door still ajar for the June meeting, but all data dependent, the theme for most Central Banks of late.
  • SFRU3 is still short of levels traded pre FOMC, was trading around 95.24 vs 95.325 now.

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