EGBS: German 2s10s Briefly Registers 2-year Low
Nov-12 10:32
* Bund futures are +17 ticks at 122.67, with front-month Brent crude futures moving away from sess...
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LOOK AHEAD: Tuesday Calendar: Fed Speakers, Weekly ADP, Exist Home Sales
Oct-13 10:27
- US Data/Speaker Calendar (prior, estimate). All times ET
- 10/13 0600 NFIB Small Business Optimism reported 97.9 from 98.7 prior
- 10/13 0700 Chicago Fed Goolsbee Semafor podcast interview
- 10/13 0815 ADP Weekly Employment Change (23.750k prior, --)
- 10/13 1000 Chicago Fed Goolsbee Kyla Newsletter podcast interview
- 10/13 1000 Existing Home Sales Sep (3.98M, 3.95M), MoM (-2.0%, -0.8%)
- 10/13 1130 US Tsy $95B 13W & $82B 26W bill auctions
- 10/13 1300 US Tsy $95B 6W bill auction
- 10/13 13:00 Richmond Fed's Barkin moderated discussion
- 10/13 1400 Federal Budget Balance Sep (-$197.9B, -$30.0B)
- 10/13 16:00 Boston Fed Collins banking conference (text, Q&A)
- Source: Bloomberg Finance L.P. / MNI
EGB OPTIONS: Bund Call Spread
Oct-13 10:27
RXZ6 122.5/123.5cs, bought for 23.5 in 2k.
US 10YR FUTURE TECHS: (Z6) Trend Set-Up Still Bearish
Oct-13 10:25
- RES 4: 107-05+ High Sep 10
- RES 3: 106-10+ 50-day EMA
- RES 2: 105-21 Low Sep 15 and 16
- RES 1: 105-03 20-day EMA
- PRICE: 104-28+ @ 11:14 BST Oct 13
- SUP 1: 103-28+ Low Oct 01
- SUP 2: 103-20+ Low Jun ’07 (cont)
- SUP 3: 103-15+ 3.236 proj of the Jun 30 - Jul 14 - 17 price swing
- SUP 4: 103-00 3.500 proj of the Jun 30 - Jul 14 - 17 price swing
The trend condition in Treasuries remains bearish and despite a shallow bounce, the contract is still trading closer to its recent cycle lows. Scope is seen for an extension towards 103-15+, a Fibonacci projection. Note that momentum studies highlight an oversold trend. A short-term reversal higher would allow this condition to unwind. Initial firm resistance to watch is 105-03, the 20-day EMA.
