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Post Empire MFG Update

US TSY FUTURES
  • Treasury futures are scaling back support slightly prior to Empire Mfg survey release (1.1 vs. -3.5 est), current levels still off overnight lows. At the moment, front month 10Y futures trading 112-21.5 (+3.5), yield3.8029 % -.0293. Lighter volumes with Japan out for one day holiday.
  • The Sep'23 10Y contract has cleared the 20-day EMA and attention turns to a key resistance area at the 50-day EMA, at 113-11+. A clear break of this average would strengthen a bullish theme.

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