CZECHIA: CNB Governor Guides Towards Rate Pause
* CNB Governor Ale Michl told Bloomberg that he expects the Bank Board to keep the two-week repo r...
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EGBS: Citi Like 20-Year RFGB/Bund Tighteners
Late on Friday Citi noted that they “prefer EGB longs via 20-Year RFGB/Bund tighteners given the underperformance of FAN vs. the periphery in the recent tariff de-escalation rally and of the 20-Year Finnish sector on EGB curves due to supply indigestion, which we believe has peaked”.
US 10YR FUTURE TECHS: (M5) Bear Cycle Extension
- RES 4: 112-20+ High May 1 and a bull trigger
- RES 3: 112-01+ High May 2
- RES 2: 111-22 High May 7 and a key near-term resistance
- RES 1: 111-08 20-day EMA
- PRICE: 110-07+ @ 08:48 BST May 12
- SUP 1: 110-01+/00 76.4% of the Apr 11 - May 1 bull leg
- SUP 2: 109-08 Low Apr 24 and key support
- SUP 3: 108-26+ 76.4% retracement of the Jan 13 - Apr 7 bull cycle
- SUP 4: 108-21 Low Feb 19
Treasury futures are trading sharply lower today as the reversal that started May 1, extends. The next support to watch is 110-01+, a Fibonacci retracement point. Clearance of this level would strengthen a bearish theme and expose a key support at 109-08, the Apr 24 low. Key near-term resistance has been defined at 111-22, the May 7 high. A break of this level is required to signal a potential reversal.
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