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Richer On Thursday, TY Post CPI High Intact

US TSYS

TYZ3 deals at 108-28, +0-00+, a touch above yesterday’s settlement level.

  • Cash tsys finished 7-10bps richer across the major benchmarks, the belly lead the bid on Thursday.
  • A higher than expected rise in initial jobless claims saw Tsys firmed yesterday, Initial Claims printed their highest level since Sep 8 and Continuing Claims marked its highest level since Nov 21.
  • Industrial Production was softer than forecast, and Capacity Utilization fell to its lowest since June.
  • Post CPI highs remain intact for TY, short term bullish conditions remain intact. Immediate focus for bulls is the post CPI high (108-31) a break through here opens 109-20 high from Sep 19. Support comes in at 107-00, low from Nov 13.
  • There is a thin docket in Asia today, further out we have Housing Starts and Fedpeak from Chicago Fed President Goolsbee, Boston Fed President Collins and San Francisco Fed President Daly.

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