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Post-ISM Data React, Tsys Extend Highs

US TSY FUTURES
  • Treasury futures extend early session highs after June ISM Manufacturing falls to 46.0 vs. 46.9 est (47.2 prior) the lowest since May 2020. Prices paid at 41.8 lower than exp 44.2, ISM Employment at 48.1 lower than expected 51.4.
  • Meanwhile, Construction Spending MoM lower than expected at +0.9% vs. 1.2% est.
  • Front month 10Y futures mark 112-17.5 high (+9). Initial technical resistance at 112-21 Jun 22 low, 113-18 June 15 High key resistance.

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