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Post-Data Rally Gains Momentum

US TSY FUTURES
  • After the knee-jerk sell-off reaction to 3.3% GDP, Treasury futures recovered, extended session highs in the last couple minutes, Mar'24 10Y taps 111-10 (+11), 10Y yield nears 4% to 4.0244% low.
  • Initial technical resistance at 111-21/112-26+ (20-day EMA / High Jan 12). Curves mildly flatter w/ 2s10s -0.706 at -21.281.
  • Cross asset summary: Crude higher (WTI +1.21 at 76.30), Gold firmer (+8.21 at 2022.10), stocks firmer: SPX eminis +19.5 at 4919.5 - still off yesterday's contract high of 4933.25.

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