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Post-PPI, Weekly Claims React

US TSYS
  • Treasury futures extend highs (adding to pre-release gains) after lower than expected PPI final demand at -0.2% vs. 0.1% MoM (2.2% YoY vs. 2.5% est), Ex Food and Energy MoM 0.0% vs. 0.3% est, (YoY 2.3% vs. 2.5%).
  • Meanwhile, weekly jobless claims higher than expected at 242k vs. 225k est, continuing claims 1.82m vs. 1.795M.
  • Sep'24 10Y Treasury futures are currently trading +14 at 110-24 -- through initial technical resistance at 110-21.5 (June 12 high) with next level at 110-27.5 (1.00 proj of the Apr 25 - May 16 - 29 price swing).
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  • Treasury futures extend highs (adding to pre-release gains) after lower than expected PPI final demand at -0.2% vs. 0.1% MoM (2.2% YoY vs. 2.5% est), Ex Food and Energy MoM 0.0% vs. 0.3% est, (YoY 2.3% vs. 2.5%).
  • Meanwhile, weekly jobless claims higher than expected at 242k vs. 225k est, continuing claims 1.82m vs. 1.795M.
  • Sep'24 10Y Treasury futures are currently trading +14 at 110-24 -- through initial technical resistance at 110-21.5 (June 12 high) with next level at 110-27.5 (1.00 proj of the Apr 25 - May 16 - 29 price swing).