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Reminder - I have been looking for bonds to top today. Just missed
matching high after the data (by 4/32nds in futures and I think about
2/32nds in cash). Prefer futures hold 123-16/24 to allay fears of
failure. Bottom line is that from a POSITIONAL standpoint, I'd be
selling rallies and think that bonds are ready to begin a 75 basis point
move toward higher rates. Have a great 4th of July.
Steve Poser
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