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Post Flash Mfg PMI React

US TSYS
  • More two-way post-data trade as Treasury futures gap lower/extend lows after mixed flash PMI figures -- Mfg lower than expected vs. higher than expected Services and Composite, quickly bounce off lows.
  • Sep'24 10Y trades down to 113-08.5 low (-20) rebounds to to 113-13.5 last. Current levels well inside technicals: resistance at 114-03/114-16 (High Aug 6 / 76.4% of the Aug 5 - 8 pullback) vs. support at 112-26.5 (20-day EMA ).
  • Next up: existing home sales at 100ET.

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