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Post-ISM React

US TSY FUTURES
  • Treasury futures gap higher extend session highs after latest ISM data comes out: large drop in Factory prices paid (44.2 from 53.2 prior, 52.3 exp) slightly lower than expected Mfg figure (46.9 vs. 47.0 est).
  • Sep'23 10Y futures trade through 20D EMA resistance of 114-28 to 115-00 high, next resistance level at 115-06+ 50-day EMA. Front month drawing some profit taking sales, slips back to 114-27.5 (+12.5). Curves bending steeper, 2s10s +.484 at -75.940.

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