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Inching Lower

US TSY FUTURES
  • Treasury futures are extending lows into the cash open. Better volumes (TYZ3>265k) in the lead up to August CPI figures at the bottom of the hour. Dec'23 10Y marks 109-17.5 low (-10.5), through initial technical support of 109-19 (Sep 7 low).
  • Moving average studies continue to highlight a medium-term downtrend. An extension lower would signal scope for 109-09+, Aug 22 low and a bear trigger. A break of this level would strengthen a bearish theme.

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