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Post-Data Wash?

US TSY FUTURES

Stronger housing starts but building permits lag, making some traders to call the data a wash. Nevertheless, Tsy futures continue to gain -- back to upper half overnight range on decent volumes (TYZ>445k), yld curves bull flattening. Aside from some technical, momentum related support, desks posit rise in covid-related restrictions to spell softer economic numbers. Early flow includes rate lock sales in shorts to intermediates, bank portfolio selling in 10s vs. prop and real$ buying intermediates to long end.

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