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Post-Fed Waller Comments React

US TSYS
  • Tsys reverse course, extending lows again after Fed Gov Waller strikes a more cautious stance re: cutting rates, taking a wait and see stance on reaching/maintaining 2% inflation target.
  • Mar'24 10Y futures gap to 111-28.5 low (-22.5) after climbing to session high of 112-11.5, still well above initial technical support of 111-06+ (Low Jan 05) followed by key pivot support at 111-01+, the 50-day EMA.
  • Curves steeper but off highs, 2s10s +1.163 at -19.559 vs. -16.627 high.

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