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Post-Retail Sales React: Gapping Higher

US TSYS
  • Treasuries gap higher after lower Retail Sales data and down revisions to prior: Advance MoM (0.1% vs. 0.3% est, prior down revised to -0.2% from 0.0%), Ex Auto MoM (-0.1% vs. 0.2% est, prior down-revised to -0.1% from 0.2%), Ex Auto and Gas (0.1% vs. 0.4% est, prior revised to -0.3% from -0.1%).
  • Retail Sales Control Group (0.4% vs. 0.5% est, prior revised to -0.5% from -0.3%).
  • Sep'24 10Y futures are currently trading +7.5 at 110-20.5 vs. 110-21 high - focus on technical resistance at 111-01 (Jun 14 high). Support at 109-19+/109-00+ (50-day EMA / Low Jun 10 and key support).

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