When running the CLI to build a theme locally, where are theme customizer settings saved?

When running the CLI to build a theme locally, where are theme customizer settings saved?

MVS-ONE
Shopify Partner
11 0 2

When I'm using the theme customizer in development mode (where it says "Development (my-local-machine)") I can see the changes reflected when I load the site locally. But the changes aren't saved where I expect them to be (eg: /templates/product.my-product.json)

 

 

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