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Post-Flash PMIs React

US TSY FUTURES
  • Still well bid across the board, Treasury futures pare gains slightly after S&P Flash PMIs come higher than estimated: Mfg PMI (49.3 vs. 47.3 est, 47.0 prior),
  • Services PMI (53.8 vs. 50.6 est, 50.3 prior), Composite PMI (53.3 vs. 50.1 est, 49.5 prior).
  • Yield curves scale back steepener move, 2s10s well off five month high of -26.706 to -34.020 amid better selling in 2Y futures post data. TUM3 currently +8.5 at 104-03.5.

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