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Post-Flash PMIs React

US TSYS
  • Treasury futures pare losses after mixed flash PMI data: higher than expected S&P Global US Mfg PMI at 51.5 vs. 50.5 est), vs. lower than expected Services PMI at 51.3 vs. 52.3 est, as well as Composite PMI 51.4 vs. 51.8 est.
  • Futures back near top end of narrow overnight range, Mar'24 10Y futures trades +4 at 109-24, initial technical resistance at 110-17+ (High Feb 15) followed by 110-31+ (20-day EMA).
  • Curves remain flatter: 2s10s -2.661 at -37.613, 10Y yield -0.0177 at 4.3010%.

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