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Post-PPI, Weekly Claims React

US TSY FUTURES
  • Treasury futures gapped lower, TYM4 breaching initial technical support of 108-00 to 107-27.5 low after this morning's data but quickly rebound back to mildly higher overnight ranges.
  • PPI MoM slightly lower than expected at 0.2% vs. 0.3% est, weekly claims lower than expected at 211k vs. 215k while continuing claims come out higher at 1.817m vs. 1.8M est.
  • Jun'24 10Y currently +4.5 at 108-11. Technical resistance well above at 109-02/26+ (Low Apr 8 / High Apr 10); technical support at 107-26.5 (2.382 proj of Dec 27 - Jan 19 - Feb 1 price swing).

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