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Post-Weekly Claims React

US TSYS
  • Fast two-way trade as Treasury futures bounce off lows then retreat after higher than expected weekly jobless claims of 221k vs. 214k est (210k prior up-revised to 212k), and lower than expected continuing claims at 1.791M vs. 1.810M est (1.819M prior down-revised to 1.810M).
  • Jun'24 10Y futures currently -4.5 at 109-21 (10YY 4.5299%). Initial technical support at 109-09+ (Low Apr 03) followed closely by 109-09 (Lower 1.0% 10-dma envelope) and 109-00 (round number support).
  • Focus turns to multiple Fed speakers through the session ahead of Friday's key employment report for March.

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