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Post-Retail Sales React: Tsys Extend Lows on Surprise Data

US TSY FUTURES
  • Treasury futures extend lows after higher than expected Retail Sales: 0.7% vs. 0.4% est, prior up-revised to 0.9% from 0.6%, Ex Auto MoM (1.1% vs. 0.5% est, prior up-revised to 0.6% from 0.3%). Empire Manufacturing lower than expected at -14.3 vs. -5.0.
  • Jun'24 10Y futures trade -28 to 107-26 low -- through initial technical support of 107-27+ (Low Apr 11) rebound to 107-29. Next support at 107-26+ (2.382 proj of Dec 27 - Jan 19 - Feb 1 price swing) followed by 107-07+ (76.4% of the Oct - Dec ‘23 bull leg (cont)).
  • Next up at 1000ET: Business Inventories (0.4% est) and NAHB Housing Market Index (51 est).

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