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Markets Roundup, Tsys Off Recent Lows

US TSY FUTURES

Treasury futures holding just above recent session lows, curves still flatter with the short end underperforming.
Currently, Sep 2Y futures tapped 102-18.38 low (-4.38) after a large 10.5k Block sale recently, with yield climbing to 4.5413% high. Sep 10Y futures tapped 113-18.5 (-10) low, above initial technical support of 113-10 (Monday low). Below that, attention is on key support and the bear trigger at 112-29+, the May 26 / 30 low. A break would resume the downtrend since May 4.
Curves extending inversion but remain above early March low around -110 (multi-decade low not seen since early 1980s).
No particular data-point or headline driver cited, morning moves partially tied to swings in EGBs, while incoming corporate debt issuance is creating some rate lock sale pressure, surge in supply is expected to continue as issuers return following the passage of debt ceiling bill late last week.
Meanwhile, stocks have bounced to mildly higher levels, SPX (+2.5 at 4283.5) buoyed by a rally in bank shares (leading gainers: Key +4.95%; Zion +4.5%; MTB +4.35%).

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