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Trim Gains Post UofM


Still firmer across the board, Tsy futures scale back support after preliminary August reading of consumer sentiment from the University of Michigan climbed to 55.1 vs. 52.5 exp (51.5 in July and all-time low of 50.0 in June for comparison).
Yield curves extend flattening as a result of post-data pull-back:

  • 3M10Y -3.039, 28.598 (L: 25.499 / H: 33.589)
  • 2Y10Y -5.254, -38.761 (L: -39.256 / H: -32.494)
  • 2Y30Y -6.992, -11.762 (L: -12.31 / H: -5.024)
  • 5Y30Y -3.664, 14.987 (L: 14.352 / H: 18.841)

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