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Post Flash PMIs React

US TSY FUTURES

Still bid, Treasury futures pare gains after larger than expected gains for S&P Global US PMIs for January:

  • Mfg PMI (50.3 vs. 47.6 est, 47.9 prior)
  • Services PMI (52.9 vs. 51.5 est, 51.4 prior)
  • Composite PMI (52.3 vs. 51.0 est, 50.9 prior)
  • March'24 10Y falls back to 111-14.5 (+7.5) from recent high of 111-19.5, yield 4.1108 %(-.0174) from 4.0840% low. Curves remain steeper: 2s10s +3.868 at -20.731.

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