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Post-BOE 50Bp Hike Update

US TSY FUTURES

Treasury futures have bounced off initial lows after surprise 50Bp hike from the BoE,. Still weaker, front month 10Y futures trading 113-07 (-3) after falling to 112-26.5 low. Curves off deeper inverted levels, 2s10s +.791 at -99.485. Gist of rebound making the rounds is the larger than anticipated hike to stem inflation brings forward timing of a rate cut.

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