May 23, 2024 13:50 GMT
Post-Flash PMI React
US TSYS
- Treasury futures gap lower after higher than expected flash PMIs: Services PMI (54.8 vs. 51.2 est) and Composite PMI (54.4 vs. 51.2 est) while Manufacturing PMI slightly higher (50.9 vs. 49.9 est).
- Jun'24 10Y futures fall to 108-23 low (-10) through initial technical support of 108-29.5 (20-day EMA), focus on 108-15 (Low May 14 and key support). Curves flatter but off lows: 2s10s -1.224 at -46.177 vs. -46.910 low.
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