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Post-ADP Private Employ React

US TSYS
  • Treasury futures continue to reject overnight cycle lows, extend rebound after ADP Employment Change comes in much lower than expected +81k vs.150k est, +177k prior.
  • Dec'23 10Y futures top 107-00 to 107-01 high vs. 106-03.5 low overnight, yield slips to 4.7267 low vs. 4.8799% high overnight.
  • Technical resistance focus on 107-14 (High Oct 3).

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