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Tsys Reverse Course, Pare Gains Post-Data, UK PM Resigns


Tsys had extended early session highs post-data (30YY 4.1144% low; 10YY 4.0963% low) weekly claims -12k to 214k, continuing claims +.021M to 1.385M, Pilly Fed Mfg index little weaker than expected at -8.7.
Bonds reverse course soon after as UK PM Liz Truss announces her resignation, becoming the shortest serving on record for the position. Announces leadership election within a week.
Yield curves mixed, short end flatter:

  • 3M10Y +0.864, 14.085 (L: 7.384 / H: 15.675)
  • 2Y10Y -1.305, -44.226 (L: -46.495 / H: -42.082)
  • 2Y30Y +0.064, -43.721 (L: -45.429 / H: -42.543)
  • 5Y30Y +1.722, -21.828 (L: -24.801 / H: -20.667)

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