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Post FOMC Update, Curves Bull Steepen

US TSYS

Curves near steepest levels of the day Bonds retrace the initial gap bid following the steady rate announcement from the FOMC. Short end outperforms as futures adjust to the three rate cuts penciled in for 2024. The 2s10s curve is currently +4.469 at -35.099, steepest since March 4.
Markets waiting for Fed Chairman Powell press conference at 1430ET, link: POWELL

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