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Post-Housing Data Reaction

US TSY FUTURES

Already off highs from 30 minutes ago, Treasury futures remain well bid (TYM3 +14.5 at 112-27.5), are largely ignoring the better than expected FHFA House Price Index + 0.6% vs. expected + 0.2% (+ 0.5% prior). Curves remain flatter with short end rates underperforming, 2s10s -4.519 at -81.086, near mid-March levels.

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