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Post-Unit Labor Cost, Weekly Claims React

US TSYS
  • Treasury futures rebound, extend early session highs after 1Q Labor Cost rises lower than expected (4.2% vs. 6.0%, Weekly Claims gains 2k to 232k.
  • New lead quarterly Sep'23 10Y futures trade through initial resistance (114-15, May 31 high) to 114-19, focus on next resistance at 114-28 20-day EMA.
  • Curves bouncing off deeper inverted levels, 2s10s currently -.692 at -77.116 vs. -80.451 low.

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