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Paring Vaccine-Tied Bid Well Ahead CPI Release

US TSY FUTURES
Tsy futures have reversed much of the knee-jerk move tied to the J&J vaccine headlines (US urges pause in J&J covid vaccine use to investigate blood clotting). Equities attempting to bounce off lows but remain weaker (ESM1 -10.0).
  • Appr 75k TYM1 have traded since the initial move, total volume just over 470k, yield curves bending steeper.
  • Main focus on upcoming CPI MoM (0.4% est, 0.5% previous); Ex food & Energy MoM (0.1%, 0.2%). Several Fed speakers on tap today, unlikely to be market moving ahead midnight Friday media blackout.

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