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Tsys Extending Lows, Fed Williams Pours Cold Water on Cut Pricing

US TSYS
  • Treasury futures are extended session lows (TYH4 112-04, -12.5) as NY Fed Williams posits market may have reacted to Wed's FOMC announcement "more strongly than forecasts show".
  • Futures still well above post FOMC levels at the moment, TYH4 bounces back to 112-08 (-8.5).
  • Initial technical support well below at 111-09+ (High Dec 7 and a recent breakout level).

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