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Post-UofM Consumer Sentiment React: Extending Lows

US TSYS
  • Treasury futures are extended session lows and bouncing slightly after latest UofM consumer sentiment comes out broadly lower than expected at 67.4 vs 76.2 est (77.2 prior), Current Conditions (68.8 vs. 79.0 est), and Expectations (66.5 vs. 75.0 est).
  • Meanwhile, 1 Yr Inflation exp higher at 3.5% vs. 3.2% est (3.2% prior), 5-10 Yr Inflation (3.1% vs. 3.0% est).
  • Still above Thursday's pre-weekly claims levels, Jun'24 10Y trades 108-26 (-9) vs. 108-24 low, initial technical support at 108-15.5 (20-day EMA). 10Y yield rises to 4.4944%, currently at 4.865% +.0334.

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