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JOLTS Fully Reverses ISM Prices Paid Sell-Off

US TSYS
  • Treasuries have extended a pre-data rally with the JOLTS moderating across both openings and quits, with 2YY down a further 5.5bps on the data for -9.3bps on the day.
  • The belly leads the way with 5YY -11.7bps at typing, with both the front end and belly fully reversing yesterday’s sell-off driven primarily by the surprise increase in ISM Mfg prices paid.

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