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Post-Fed Beige Book React

US TSYS
  • Very little reaction to Beige Book details that show modest to subdued economic growth amid decent increase in tourism spending.
  • Futures holding near midday lows, Dec'23 10Y futures at 109-20.5 (-10), holding above session low of 109-19.5, and next support of 109-18.5/09+ Low Aug 25 / 22 and the bear trigger.
  • Curves flatter, 3M10Y off low at -119.280 (-.825), 2Y10Y at -73.705 (-3.498).

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