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Weakest Empire Mfg Index Since May 2020


Tsys continued to extend highs after the NY Fed Empire State index gapped -31.5 vs. 5.0 estimate - "with sharp declines in orders and shipments" for the second largest monthly decline since May 2020. Yield curves bull steepened on the move have retraced as Tsys scaling back from highs, 2s10s currently +.237 at -41.897 vs. -40.213 high.

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