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Post S&P PMIs React

US TSY FUTURES
  • Treasury futures extend the early rally after S&P PMIs comes out lower than estimated: S&P Global US Manufacturing PMI (47.0 vs 49.0 est), Services (51.0, 52.2 est), Composite (50.4, 51.5 est).
  • Intermediates to long end leading as curves inch flatter (3M10Y -11.568 at -124.428, 2Y10Y -.586 at -73.198. Front month 10Y futures mark 109-26.5 high(+24.5) nearing initial resistance at 109-28+/110-12 High Aug 18 / 20-day EMA.

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