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Post S&P Global US Services PMI React

US TSY FUTURES
  • Treasury futures rebound after S&P Global US Services PMI comes out a little lower than expected (50.5 vs. 51.0 est), Composite PMI (50.2 vs. 50.4 est). Futures had pared gains prior to release. Markets also listening to UK Bailey comments on inflation - close to May forecast.
  • Current Dec'23 10Y futures at 110-00 (+1.5), yield 4.2539%, curves running flatter 3M10Y =4.134at 122.985, 2Y10Y -.329 at -70.536.
  • Next up, ISM Services data at 1000ET.

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