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Post June Jobs Data React

US TSY FUTURES
  • Treasury futures rebound off lows after June employment data comes in softer than forecasted at +209k (+230k est) while May jobs down-revised by 33k.
  • Sep'23 10Y futures gap to post-data high of 111-00 (+12.5) and settle back in to 110-27 last -- nears first resistance of 111-15 (July 6 high).
  • Curves off deeper inverted levels, 2s10s +4.691 at -91.721, with short end outperforming as projected rate hike(s) by year end cool slightly.

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