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Post-NFP Reaction

US TSY FUTURES
  • Fast two-way trade as Treasury futures gap lower then quickly reverse to higher levels after July employment data comes out slightly lower than expected at +187k vs. 200k est, June down-revised by -49,000.
    Front month Sep'23 10Y futures mark 110-13 (+5.5) high before easing to 110-09; curves unwind small portion Thu's steepening: 3M10Y -.298 at -123.776, 2Y10Y -1.054 at -71.857.
  • Front month Sep'23 10Y futures mark 110-13 (+5.5) high before easing to 110-09; curves unwind small portion Thu's steepening: 3M10Y -.298 at -123.776, 2Y10Y -1.054 at -71.857.

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