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Reversing Post-Data Bid

US TSY FUTURES
  • Futures trading mildly weaker now, quickly reversing the knee-jerk bid anticipated in the event of a large claims up-revision. Yield curves have notably pared steeper profiles, 2s10s currently at -46.711 vs. -42.798 high.
  • Jun'23 10Y futures neared key resistance before reversing: traded 116-30 high, exposing 117-01+, the Mar 24 high and a key short-term resistance. A break would strengthen bullish conditions and open 117-14+, the Aug 29/30 2022 high (cont). on the flipside, key support is at 114-07, the Mar 29/30 low.

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