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Strong June Jobs Report

US TSY FUTURES
Tsy futures reverse course, gap lower after stronger than estimated June employ report see gain of 372k vs. 268k est, while net revisions for April/May decline 74k.
  • Yield curves bear flattening, extending inversion, 2s10s -2.189 at -4.760 but off immediate low of -7.461.
  • Further underscoring 75bp rate hike expectations for late July, Sep'22 Eurodollar futures now trade -0.050 at 96.685, balance of Whites through Greens -0.070-0.110.

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