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(Z9) Flies on dour data *RES...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (Z9) Flies on dour data
*RES 3: 133-20+ 2.0% 10-dma envelope
*RES 2: 133-04+ High Jul 29 2016
*RES 1: 132-16 3% Upper Bollinger Band
*PRICE: 132-12 @ 16:23 BST, Sep 3
*SUP 1: 129-12 Low Aug 8
*SUP 2: 128-28 50-dma
*SUP 3: 128-14+ Low Aug 2
After bullish fatigue looked to be setting in over the past two weeks or so,
markets got the catalyst they needed with a dismal ISM manufacturing number,
which sent 10yr Treasuries to their highest level since 2016, hitting 132-13.
This keeps a renewed leg higher toward the 133-00 level on the cards in the
medium term, with vol resistance sitting ahead at 132-16 and 133. To the
downside, a break below 130-16 here would be needed to shift the outlook
resolutely more bearish, which would open early August lows at 129-12 and the
50-/100-dmas.

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