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Weaker Ahead PPI

US TSYS
Tsy futures broadly weaker, yield curves steeper ahead PPI (1.3% prior, 0.5% est), heavier volumes (TYM1 >830k so far).
  • 10YY appr 1.5386% vs. 1.6124% O/N high, compares to 1.6238%H on Mar 5
  • 30YY appr 2.3495% vs. 2.3682% O/N high, compares to 2.3944%H on Feb 25
  • 5s30s yild curve 154.77H O/N vs. 166.984H on Feb 25, Aug 2014 lvl
Technicals for TYM1: Futures stalled yesterday at 133-00+ and selling pressure has returned. The outlook is bearish with a price sequence of lower lows and lower highs continuing to dominate. Attention is on 131-23+, Mar 5 low where a break would confirm a resumption of the downtrend. This would open 130-07 next, the Feb 2 2020 low.

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