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Post-Philly Fed Non-Mfg Index React

US TSY FUTURES
  • Treasury futures extend highs after lower than expected regional Philly Fed non-mfg index data, some knock-on support after lower than expected Canada July CPI as well.
  • Tsy Sep'24 10Y tapped 113-11.5 high, trades 113-10.5 last (+3.5), well below initial technical resistance at 114-03/115-03+ (High Aug 6 / 5 and the bull trigger).
  • Curves steeper but off highs, 2s10s +1.448 at -18.460 vs. -17.490 high.

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