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Post UofM, Factory/Durable Orders React

US TSY FUTURES
  • Little react to latest UofM and Factory/Durables Order data: Tsy futures remain weaker but off lows following this morning's surge in January jobs data (+353k vs 185k est; prior up-revised to 333k from 216k).
    • U. of Mich. Sentiment (79.0 vs 78.9 est)
    • U. of Mich. Current Conditions (81.9 vs. 83.5 est)
    • U. of Mich. Expectations (77.1 vs. 76.0 est)
    • U. of Mich. 1 Yr Inflation (2.9% vs. 2.9% est), 5-10 Yr (2.9% vs. 2.8% est)
  • Mar'24 10Y futures currently trading -1-00.5 at 111-28 after bouncing off initial technical support of 111-24.5 earlier ( 20-day EMA). Curves remain flatter but off lows: 2s10s -4.283 at -36.916 (-40.198 low), 10Y yield holding around 4% at 3.9989% (+.1187).
  • Factory Orders in-line w/ 0.2% vs. est, Ex Trans (0.4% vs. 0.2% vs. est)
  • Durable Goods Orders in line w/ 0.0% vs. est, ex Trans (0.5% vs. 0.6% vs. est)

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