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Post-S&P Global US Services/Composite PMIs React

US TSY FUTURES
  • Tsy futures remain near session lows after slightly lower than expected S&P Global US Services PMI (52.5 vs 52.9 est), Composite PMI (52.0 vs 52.3 est).
  • Mar'24 10Y futures currently trading -17 at 111-04 vs. 111-00.5 low, above initial technical support of 110-26 (Low Jan 19 and bear trigger).
  • Curves bear steepening: 2s10s +3.484 at -31.337, 10Y yield 4.1097% (+.0898).
  • Next up: ISM Services data at 1000ET

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