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Post-PMI MFG Data React

US TSYS
  • Tsy futures holding weaker after the S&P manufacturing PMI came out slightly lower than expected: 50.2 vs. 50.4 est, but gaining nonetheless vs. 49.2 in March.
  • Tsy 10Y yields running at 3.4768% (+.0548) at the moment, off early session 3.5014% high due to unexpected pick-up in corporate supply-tied hedging.
  • Stocks, however, inching higher, SPX Eminis mark 4196.25 (+7.75), Industrials, Materials and Financial sectors outperforming, banks leading: JPM +2.83%, Citi group +2.12%, WFC +1.96%

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